Sumitomo Mitsui DS Asset Management Company Ltd Has $2.01 Million Stake in Royal Bank of Canada (NYSE:RY)

Sumitomo Mitsui DS Asset Management Company Ltd lowered its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,635 shares of the financial services provider’s stock after selling 421 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Royal Bank of Canada were worth $2,005,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new position in Royal Bank of Canada during the third quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new position in Royal Bank of Canada during the third quarter valued at approximately $26,000. Grove Bank & Trust bought a new stake in Royal Bank of Canada during the third quarter worth $28,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

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

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $117.94 on Tuesday. The business’s 50-day moving average price is $121.79 and its 200-day moving average price is $120.59. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $166.81 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.78 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This represents a $4.21 dividend on an annualized basis and a yield of 3.57%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s payout ratio is presently 49.76%.

Royal Bank of Canada Company 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.