State of Tennessee Department of Treasury Boosts Stake in Royal Bank of Canada (NYSE:RY)

State of Tennessee Department of Treasury raised its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 813,769 shares of the financial services provider’s stock after purchasing an additional 4,644 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Royal Bank of Canada were worth $98,069,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC increased its position in Royal Bank of Canada by 3.1% in the third quarter. Barclays PLC now owns 8,831 shares of the financial services provider’s stock worth $1,101,000 after purchasing an additional 268 shares during the last quarter. Te Ahumairangi Investment Management Ltd raised its position in shares of Royal Bank of Canada by 1.4% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 35,540 shares of the financial services provider’s stock valued at $4,416,000 after buying an additional 500 shares in the last quarter. Fulcrum Equity Management bought a new position in shares of Royal Bank of Canada in the 3rd quarter valued at about $216,000. World Investment Advisors LLC increased its stake in Royal Bank of Canada by 74.1% during the third quarter. World Investment Advisors LLC now owns 5,521 shares of the financial services provider’s stock worth $689,000 after acquiring an additional 2,350 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $167,000. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

RY has been the topic of several recent research reports. CIBC upgraded Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Friday, April 4th. Cibc World Mkts upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. 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. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Up 0.4 %

NYSE RY opened at $116.14 on Monday. The stock has a market cap of $163.95 billion, a PE ratio of 14.06, a PEG ratio of 1.80 and a beta of 0.82. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05. The company’s 50-day moving average price is $114.82 and its 200-day moving average price is $119.83.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is presently 46.18%.

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.