Forsta AP Fonden Has $44.10 Million Holdings in Royal Bank of Canada (NYSE:RY)

Forsta AP Fonden increased its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 365,900 shares of the financial services provider's stock after purchasing an additional 22,400 shares during the quarter. Forsta AP Fonden's holdings in Royal Bank of Canada were worth $44,095,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in RY. Addison Advisors LLC lifted its stake in shares of Royal Bank of Canada by 9.5% in the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider's stock worth $118,000 after buying an additional 82 shares during the last quarter. Financial Management Professionals Inc. lifted its stake in shares of Royal Bank of Canada by 26.8% in the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider's stock worth $51,000 after buying an additional 90 shares during the last quarter. Drive Wealth Management LLC lifted its stake in shares of Royal Bank of Canada by 3.4% in the third quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider's stock worth $349,000 after buying an additional 92 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Royal Bank of Canada by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider's stock worth $519,000 after buying an additional 94 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in shares of Royal Bank of Canada by 1.6% in the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider's stock worth $768,000 after buying an additional 95 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. 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. BMO Capital Markets dropped their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a research report 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. Finally, StockNews.com lowered shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Wednesday, January 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $156.50.

Royal Bank of Canada Price Performance

Shares of RY traded down $1.06 during trading hours on Wednesday, hitting $122.05. The stock had a trading volume of 761,884 shares, compared to its average volume of 1,356,594. The company's fifty day moving average is $122.47 and its two-hundred day moving average is $120.07. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 52 week low of $93.97 and a 52 week high of $128.05. The stock has a market capitalization of $172.62 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 1.81 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The business also recently declared 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. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a yield of 3.45%. Royal Bank of Canada's dividend payout ratio is 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.