UniSuper Management Pty Ltd Buys 98,300 Shares of Royal Bank of Canada (NYSE:RY)

UniSuper Management Pty Ltd increased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 26.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 466,200 shares of the financial services provider’s stock after buying an additional 98,300 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Royal Bank of Canada were worth $56,182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Royal Bank of Canada by 165.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock valued at $361,532,000 after purchasing an additional 1,804,022 shares during the period. Vanguard Group Inc. increased its holdings in Royal Bank of Canada by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider’s stock worth $7,136,056,000 after acquiring an additional 1,104,975 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Royal Bank of Canada by 9.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider’s stock valued at $1,338,156,000 after acquiring an additional 921,276 shares during the period. Mufg Securities Canada LTD. lifted its holdings in Royal Bank of Canada by 72.0% during the fourth quarter. Mufg Securities Canada LTD. now owns 2,160,865 shares of the financial services provider’s stock valued at $260,373,000 after purchasing an additional 904,909 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in Royal Bank of Canada by 360.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 881,128 shares of the financial services provider’s stock worth $106,123,000 after purchasing an additional 689,904 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $116.29 on Thursday. The stock has a market cap of $164.17 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.80 and a beta of 0.88. 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 business has a 50-day simple moving average of $117.70 and a 200 day simple moving average of $121.17. Royal Bank of Canada has a 52 week low of $95.84 and a 52 week high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 45.96%.

Analysts Set New Price Targets

A number of brokerages recently commented on RY. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.