Dixon Mitchell Investment Counsel Inc. Boosts Position in Royal Bank of Canada (NYSE:RY)

Dixon Mitchell Investment Counsel Inc. raised its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 824,183 shares of the financial services provider's stock after buying an additional 6,345 shares during the period. Royal Bank of Canada comprises approximately 4.6% of Dixon Mitchell Investment Counsel Inc.'s investment portfolio, making the stock its 5th biggest holding. Dixon Mitchell Investment Counsel Inc. owned approximately 0.06% of Royal Bank of Canada worth $99,364,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its holdings in shares of Royal Bank of Canada by 6.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider's stock worth $10,483,000 after buying an additional 4,980 shares during the period. Legal & General Group Plc lifted its position in Royal Bank of Canada by 1.8% during the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider's stock worth $1,118,150,000 after acquiring an additional 190,341 shares during the last quarter. Creative Planning boosted its holdings in shares of Royal Bank of Canada by 6.4% during the third quarter. Creative Planning now owns 211,411 shares of the financial services provider's stock worth $26,369,000 after acquiring an additional 12,693 shares during the period. CIBC Asset Management Inc grew its position in shares of Royal Bank of Canada by 0.9% in the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider's stock valued at $1,706,833,000 after purchasing an additional 124,348 shares during the last quarter. Finally, Algert Global LLC bought a new position in shares of Royal Bank of Canada during the third quarter worth approximately $706,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on RY shares. BMO Capital Markets reduced their price target on Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating for the company in a research note on Thursday, December 5th. Barclays raised shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research report on Thursday, November 21st. TD Securities lowered shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Finally, StockNews.com downgraded shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a report on Wednesday, January 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE:RY traded up $0.19 during midday trading on Thursday, hitting $119.97. The stock had a trading volume of 908,470 shares, compared to its average volume of 1,119,577. The company's 50-day moving average price is $122.75 and its 200-day moving average price is $119.21. The company has a market capitalization of $169.60 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. Royal Bank of Canada has a fifty-two week low of $93.97 and a fifty-two week high of $128.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a dividend of $1.0522 per share. The ex-dividend date is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a yield of 3.51%. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.03. Royal Bank of Canada's payout ratio is currently 50.85%.

Royal Bank of Canada Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.