State of Tennessee Department of Treasury Increases Stock Position in Royal Bank of Canada (NYSE:RY)

State of Tennessee Department of Treasury lifted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 813,769 shares of the financial services provider’s stock after acquiring an additional 4,644 shares during the quarter. State of Tennessee Department of Treasury owned 0.06% of Royal Bank of Canada worth $98,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. WealthTrak Capital Management LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter valued at about $28,000. Roxbury Financial LLC purchased a new position in shares of Royal Bank of Canada in the fourth quarter worth approximately $29,000. Kieckhefer Group LLC bought a new stake in Royal Bank of Canada during the fourth quarter valued at approximately $36,000. Crews Bank & Trust purchased a new stake in Royal Bank of Canada during the fourth quarter valued at approximately $36,000. Finally, Jackson Grant Investment Advisers Inc. bought a new position in Royal Bank of Canada in the fourth quarter worth approximately $36,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 0.4 %

Shares of Royal Bank of Canada stock opened at $116.14 on Monday. 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 company has a fifty day moving average of $114.82 and a 200 day moving average of $119.83. The company has a market capitalization of $163.95 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given 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 of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 46.18%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RY shares. CIBC raised shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday, April 4th. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Buy” and an average 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.