Scotia Capital Inc. Buys 169,437 Shares of Royal Bank of Canada (NYSE:RY)

Scotia Capital Inc. increased its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,891,023 shares of the financial services provider's stock after acquiring an additional 169,437 shares during the period. Royal Bank of Canada makes up about 5.6% of Scotia Capital Inc.'s investment portfolio, making the stock its largest position. Scotia Capital Inc. owned approximately 0.63% of Royal Bank of Canada worth $1,071,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. WealthTrak Capital Management LLC acquired a new stake in shares of Royal Bank of Canada during the fourth quarter valued at approximately $28,000. Roxbury Financial LLC bought a new position in Royal Bank of Canada during the fourth quarter valued at about $29,000. Kieckhefer Group LLC acquired a new stake in shares of Royal Bank of Canada in the fourth quarter worth $36,000. Crews Bank & Trust bought a new stake in Royal Bank of Canada during the fourth quarter valued at about $36,000. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in Royal Bank of Canada in the 4th quarter valued at approximately $36,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Up 1.8 %

NYSE:RY traded up $2.06 during trading hours on Monday, reaching $115.33. 1,089,912 shares of the stock were exchanged, compared to its average volume of 1,095,642. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50 day moving average of $115.13 and a 200 day moving average of $120.10. The stock has a market cap of $162.81 billion, a PE ratio of 13.96, a PEG ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05.

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Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.56%. Royal Bank of Canada's payout ratio is 46.18%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Finally, CIBC upgraded shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada currently has an average rating of "Buy" and a consensus target price of $156.50.

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.