Waterloo Capital L.P. Boosts Stock Holdings in Royal Bank of Canada (NYSE:RY)

Waterloo Capital L.P. lifted its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 30.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,726 shares of the financial services provider’s stock after purchasing an additional 865 shares during the period. Waterloo Capital L.P.’s holdings in Royal Bank of Canada were worth $377,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RY. Cigna Investments Inc. New increased its stake in shares of Royal Bank of Canada by 0.5% during the fourth quarter. Cigna Investments Inc. New now owns 26,187 shares of the financial services provider’s stock valued at $2,661,000 after purchasing an additional 131 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Royal Bank of Canada by 1.2% during the fourth quarter. Pacer Advisors Inc. now owns 13,008 shares of the financial services provider’s stock valued at $1,315,000 after acquiring an additional 154 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Royal Bank of Canada by 2.0% during the fourth quarter. Raymond James Trust N.A. now owns 7,830 shares of the financial services provider’s stock valued at $792,000 after acquiring an additional 157 shares in the last quarter. Founders Financial Alliance LLC increased its position in shares of Royal Bank of Canada by 1.5% during the fourth quarter. Founders Financial Alliance LLC now owns 11,075 shares of the financial services provider’s stock valued at $1,120,000 after acquiring an additional 168 shares in the last quarter. Finally, CWM LLC increased its position in shares of Royal Bank of Canada by 7.9% during the fourth quarter. CWM LLC now owns 2,384 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 175 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Trading Down 1.1 %

Shares of RY stock opened at $106.39 on Monday. The firm’s 50 day moving average is $102.28 and its 200 day moving average is $99.21. The stock has a market capitalization of $150.55 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.67 and a beta of 0.87. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $109.51. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be paid a dividend of $1.03 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date is Thursday, July 25th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.87%. Royal Bank of Canada’s payout ratio is 50.62%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Scotiabank upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. Argus raised their target price on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday. BMO Capital Markets cut shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, May 31st. Finally, Jefferies Financial Group upgraded shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.25.

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.