Royal Bank of Canada (NYSE:RY) Position Raised by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. increased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 434,184 shares of the financial services provider’s stock after buying an additional 5,168 shares during the quarter. Royal Bank of Canada accounts for about 1.4% of Northwest & Ethical Investments L.P.’s investment portfolio, making the stock its 7th biggest holding. Northwest & Ethical Investments L.P.’s holdings in Royal Bank of Canada were worth $52,258,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Generali Asset Management SPA SGR purchased a new stake in Royal Bank of Canada in the fourth quarter valued at $3,198,000. Thrivent Financial for Lutherans purchased a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $214,000. PDS Planning Inc boosted its stake in shares of Royal Bank of Canada by 5.4% during the 4th quarter. PDS Planning Inc now owns 4,084 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 209 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $70,429,000. Finally, Signaturefd LLC raised its position in shares of Royal Bank of Canada by 4.5% during the 4th quarter. Signaturefd LLC now owns 26,909 shares of the financial services provider’s stock worth $3,243,000 after purchasing an additional 1,150 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on RY shares. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. BMO Capital Markets decreased their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Finally, 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. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Performance

NYSE:RY opened at $114.25 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a market cap of $161.28 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The firm’s 50 day moving average is $118.11 and its two-hundred day moving average is $121.38.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.96%.

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.