Royal Bank of Canada (NYSE:RY) Stake Lifted by Gold Investment Management Ltd.

Gold Investment Management Ltd. lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,066 shares of the financial services provider’s stock after purchasing an additional 532 shares during the period. Royal Bank of Canada accounts for 2.2% of Gold Investment Management Ltd.’s investment portfolio, making the stock its 7th biggest holding. Gold Investment Management Ltd.’s holdings in Royal Bank of Canada were worth $5,312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of RY. Charles Schwab Investment Management Inc. raised its stake in Royal Bank of Canada by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after acquiring an additional 64,450 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Royal Bank of Canada by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after purchasing an additional 4,980 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Royal Bank of Canada in the fourth quarter valued at approximately $60,034,000. Wealth High Governance Capital Ltda purchased a new stake in shares of Royal Bank of Canada during the 4th quarter valued at approximately $10,243,000. Finally, Algert Global LLC bought a new position in Royal Bank of Canada in the 3rd quarter worth approximately $706,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

NYSE:RY opened at $111.52 on Monday. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05. The stock has a fifty day moving average of $118.61 and a 200 day moving average of $121.54. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $157.43 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.68%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RY. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. BMO Capital Markets decreased their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Three 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 company. According to MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus price target 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.