Royal Bank of Canada (NYSE:RY) Shares Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp lifted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,583,817 shares of the financial services provider’s stock after purchasing an additional 15,300 shares during the period. Royal Bank of Canada makes up about 2.9% of Alberta Investment Management Corp’s investment portfolio, making the stock its 3rd biggest position. Alberta Investment Management Corp’s holdings in Royal Bank of Canada were worth $431,892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Global Retirement Partners LLC increased its holdings in shares of Royal Bank of Canada by 6.6% in the fourth quarter. Global Retirement Partners LLC now owns 12,251 shares of the financial services provider’s stock valued at $1,476,000 after purchasing an additional 755 shares during the last quarter. Atlas Legacy Advisors LLC purchased a new position in Royal Bank of Canada in the fourth quarter worth approximately $423,000. Cardinal Capital Management grew its position in Royal Bank of Canada by 0.8% in the fourth quarter. Cardinal Capital Management now owns 38,654 shares of the financial services provider’s stock worth $4,658,000 after acquiring an additional 303 shares during the period. Sanctuary Advisors LLC grew its position in Royal Bank of Canada by 2.7% in the fourth quarter. Sanctuary Advisors LLC now owns 16,729 shares of the financial services provider’s stock worth $2,064,000 after acquiring an additional 442 shares during the period. Finally, Americana Partners LLC grew its position in Royal Bank of Canada by 504.1% in the fourth quarter. Americana Partners LLC now owns 178,260 shares of the financial services provider’s stock worth $21,482,000 after acquiring an additional 148,752 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Up 1.6 %

RY opened at $120.89 on Wednesday. The business’s 50-day simple moving average is $120.82 and its 200-day simple moving average is $121.03. 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 one year low of $95.84 and a one year high of $128.05. The stock has a market capitalization of $170.98 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.48%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is 49.76%.

Analyst Upgrades and Downgrades

RY has been the subject of several analyst reports. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. BMO Capital Markets lowered their price target on 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. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

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.