Royal Bank of Canada (NYSE:RY) Shares Acquired by Centaurus Financial Inc.

Centaurus Financial Inc. lifted its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,560 shares of the financial services provider’s stock after purchasing an additional 220 shares during the period. Centaurus Financial Inc.’s holdings in Royal Bank of Canada were worth $259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canoe Financial LP raised its stake in Royal Bank of Canada by 11,061.2% during the fourth quarter. Canoe Financial LP now owns 151,142,403 shares of the financial services provider’s stock worth $15,285,031,000 after purchasing an additional 149,788,224 shares during the period. Norges Bank purchased a new position in Royal Bank of Canada during the fourth quarter worth about $1,898,970,000. TD Asset Management Inc raised its stake in Royal Bank of Canada by 21.7% during the fourth quarter. TD Asset Management Inc now owns 32,571,491 shares of the financial services provider’s stock worth $3,310,010,000 after purchasing an additional 5,810,077 shares during the period. Capital World Investors purchased a new position in Royal Bank of Canada during the fourth quarter worth about $365,246,000. Finally, Bank of Nova Scotia raised its stake in Royal Bank of Canada by 13.0% during the third quarter. Bank of Nova Scotia now owns 26,666,961 shares of the financial services provider’s stock worth $2,330,506,000 after purchasing an additional 3,062,038 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Trading Down 0.3 %

Shares of RY stock opened at $103.61 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $146.62 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.64 and a beta of 0.87. The company has a 50 day moving average price of $102.72 and a 200 day moving average price of $99.94. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $109.51.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be issued a $1.03 dividend. The ex-dividend date is Thursday, July 25th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.98%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s payout ratio is 50.62%.

Analyst Upgrades and Downgrades

RY has been the topic of a number of analyst reports. Jefferies Financial Group raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Argus boosted their price target on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. BMO Capital Markets downgraded shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 31st. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Finally, Barclays began coverage on shares of Royal Bank of Canada in a research note on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.