State of Wyoming Acquires 2,410 Shares of Royal Bank of Canada (NYSE:RY)

State of Wyoming raised its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 304.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,201 shares of the financial services provider’s stock after purchasing an additional 2,410 shares during the quarter. State of Wyoming’s holdings in Royal Bank of Canada were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of RY. WealthTrak Capital Management LLC bought a new position in Royal Bank of Canada in the 4th quarter valued at $28,000. Roxbury Financial LLC bought a new position in Royal Bank of Canada in the 4th quarter valued at $29,000. Optiver Holding B.V. bought a new position in shares of Royal Bank of Canada during the 4th quarter worth $35,000. Crews Bank & Trust bought a new position in shares of Royal Bank of Canada during the 4th quarter worth $36,000. Finally, Jackson Grant Investment Advisers Inc. bought a new position in shares of Royal Bank of Canada during the 4th quarter worth $36,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Down 0.6%

Shares of NYSE RY opened at $126.44 on Wednesday. Royal Bank of Canada has a 52 week low of $102.44 and a 52 week high of $128.05. The business has a 50-day simple moving average of $116.66 and a two-hundred day simple moving average of $119.42. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a market cap of $178.84 billion, a P/E ratio of 15.31, a P/E/G ratio of 1.80 and a beta of 0.89.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.24%. Royal Bank of Canada’s dividend payout ratio is currently 46.18%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RY shares. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. CIBC upgraded Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Friday, April 4th. Scotiabank started coverage on Royal Bank of Canada in a research note on Thursday, May 15th. They set a “sector outperform” rating for the company. Finally, StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Royal Bank of Canada presently 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.