Avanza Fonder AB Acquires New Position in Royal Bank of Canada (NYSE:RY)
Avanza Fonder AB purchased a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 92,690 shares of the financial services provider's stock, valued at approximately $11,170,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Royal Bank of Canada during the third quarter worth $25,000. Dunhill Financial LLC purchased a new stake in shares of Royal Bank of Canada in the third quarter worth about $25,000. Larson Financial Group LLC purchased a new position in shares of Royal Bank of Canada during the 3rd quarter valued at approximately $26,000. Grove Bank & Trust acquired a new position in shares of Royal Bank of Canada in the third quarter worth about $28,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Royal Bank of Canada by 110.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider's stock worth $28,000 after acquiring an additional 118 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of Royal Bank of Canada stock opened at $120.07 on Friday. Royal Bank of Canada has a 1-year low of $93.97 and a 1-year high of $128.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $169.74 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.77 and a beta of 0.87. The stock's 50 day simple moving average is $122.75 and its 200-day simple moving average is $119.21.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a $1.0522 dividend. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada's dividend payout ratio is presently 50.85%.
A number of equities analysts recently weighed in on RY shares. StockNews.com cut Royal Bank of Canada from a "hold" rating to a "sell" rating in a report on Wednesday, January 1st. TD Securities cut shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. BMO Capital Markets reduced their price objective on shares of 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. Finally, Barclays upgraded shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research report on Thursday, November 21st. 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.50.
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.
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