Royal Bank of Canada (NYSE:RY) Shares Bought by Gold Investment Management Ltd.

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

Other institutional investors and hedge funds have also bought and sold shares of the company. OneDigital Investment Advisors LLC raised its stake in Royal Bank of Canada by 4.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,508 shares of the financial services provider’s stock worth $313,000 after buying an additional 115 shares during the period. Coastline Trust Co bought a new stake in shares of Royal Bank of Canada during the third quarter valued at approximately $41,000. Natixis Advisors LLC raised its position in shares of Royal Bank of Canada by 3.9% during the third quarter. Natixis Advisors LLC now owns 122,223 shares of the financial services provider’s stock worth $15,245,000 after purchasing an additional 4,615 shares during the period. Prudent Man Advisors LLC acquired a new position in shares of Royal Bank of Canada during the third quarter worth approximately $220,000. Finally, Drive Wealth Management LLC lifted its holdings in shares of Royal Bank of Canada by 3.4% in the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 92 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. BMO Capital Markets cut 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 note on Thursday, December 5th. Finally, Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Up 2.5 %

Royal Bank of Canada stock opened at $111.52 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 stock has a market cap of $157.43 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The firm’s 50-day simple moving average is $118.61 and its 200 day simple moving average is $121.54.

Royal Bank of Canada Cuts Dividend

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