UniSuper Management Pty Ltd Has $56.18 Million Stake in Royal Bank of Canada (NYSE:RY)

UniSuper Management Pty Ltd lifted its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 26.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 466,200 shares of the financial services provider's stock after purchasing an additional 98,300 shares during the period. UniSuper Management Pty Ltd's holdings in Royal Bank of Canada were worth $56,182,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Royal Bank of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock worth $7,136,056,000 after purchasing an additional 1,104,975 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Royal Bank of Canada by 9.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock worth $1,338,156,000 after buying an additional 921,276 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Royal Bank of Canada by 9.3% in the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider's stock valued at $805,616,000 after acquiring an additional 541,760 shares during the period. GQG Partners LLC raised its stake in Royal Bank of Canada by 0.9% in the 4th quarter. GQG Partners LLC now owns 5,796,767 shares of the financial services provider's stock worth $698,579,000 after purchasing an additional 51,277 shares in the last quarter. Finally, Alberta Investment Management Corp boosted its holdings in Royal Bank of Canada by 0.4% in the 4th quarter. Alberta Investment Management Corp now owns 3,583,817 shares of the financial services provider's stock valued at $431,892,000 after purchasing an additional 15,300 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

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Royal Bank of Canada Trading Up 0.2 %

RY stock traded up $0.27 during trading on Monday, hitting $112.41. The company had a trading volume of 222,287 shares, compared to its average volume of 1,059,760. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05. The business has a 50-day moving average of $117.43 and a 200-day moving average of $121.03. The stock has a market cap of $158.68 billion, a PE ratio of 13.60, a PEG ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.65%. Royal Bank of Canada's payout ratio is 45.96%.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of analyst reports. CIBC reaffirmed a "neutral" rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. BMO Capital Markets cut their target price 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. Finally, StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate 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.