Knights of Columbus Asset Advisors LLC Purchases Shares of 33,170 Royal Bank of Canada (NYSE:RY)

Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 33,170 shares of the financial services provider’s stock, valued at approximately $3,997,000.

Several other institutional investors also recently made changes to their positions in the stock. Hillsdale Investment Management Inc. grew its stake in shares of Royal Bank of Canada by 360.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 881,128 shares of the financial services provider’s stock valued at $106,123,000 after buying an additional 689,904 shares during the period. Sei Investments Co. boosted its position in Royal Bank of Canada by 6.6% during the 4th quarter. Sei Investments Co. now owns 2,007 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 124 shares during the period. American Century Companies Inc. boosted its position in Royal Bank of Canada by 6.2% during the 4th quarter. American Century Companies Inc. now owns 224,931 shares of the financial services provider’s stock worth $27,121,000 after purchasing an additional 13,230 shares during the period. Virtu Financial LLC purchased a new stake in Royal Bank of Canada during the 4th quarter worth $361,000. Finally, Summit Global Investments purchased a new stake in Royal Bank of Canada during the 4th quarter worth $4,892,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RY. 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 reissued a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Three 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at $113.71 on Friday. The firm has a market cap of $160.52 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The firm’s 50-day simple moving average is $117.86 and its 200-day simple moving average is $121.28. 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 $95.84 and a 1 year high of $128.05.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.61%. Royal Bank of Canada’s dividend payout ratio (DPR) is 45.96%.

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.