Royal Bank of Canada (NYSE:RY) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden lifted its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 365,900 shares of the financial services provider’s stock after acquiring an additional 22,400 shares during the period. Forsta AP Fonden’s holdings in Royal Bank of Canada were worth $44,095,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new stake in shares of Royal Bank of Canada during the third quarter worth approximately $25,000. Larson Financial Group LLC acquired a new stake in Royal Bank of Canada in the third quarter valued at $26,000. Grove Bank & Trust bought a new position in Royal Bank of Canada during the 3rd quarter valued at $28,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Royal Bank of Canada by 110.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

RY stock opened at $122.92 on Wednesday. The stock’s fifty day moving average is $122.47 and its two-hundred day moving average is $120.07. The stock has a market capitalization of $173.84 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.81 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a $1.0522 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a yield of 3.42%. Royal Bank of Canada’s dividend payout ratio is 50.85%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RY shares. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, BMO Capital Markets reduced their price target 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

About Royal Bank of Canada

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.