StockNews.com Upgrades Royal Bank of Canada (NYSE:RY) to “Hold”

StockNews.com upgraded shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) from a sell rating to a hold rating in a report released on Friday.

Several other equities research analysts have also issued reports on RY. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. 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. Finally, BMO Capital Markets dropped their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

NYSE:RY opened at $120.72 on Friday. 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 50-day simple moving average of $124.00 and a two-hundred day simple moving average of $117.31. The firm has a market capitalization of $170.66 billion, a PE ratio of 14.62, a P/E/G ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a 52-week low of $93.97 and a 52-week high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.49%. Royal Bank of Canada’s dividend payout ratio (DPR) is 52.91%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. National Bank of Canada FI lifted its holdings in shares of Royal Bank of Canada by 16.7% in the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $2,141,681,000 after acquiring an additional 2,901,033 shares during the last quarter. FMR LLC boosted its position in shares of Royal Bank of Canada by 75.8% during the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after buying an additional 7,702,585 shares during the period. CIBC Asset Management Inc grew its stake in shares of Royal Bank of Canada by 0.9% during the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after buying an additional 124,348 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Royal Bank of Canada by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock worth $1,289,274,000 after buying an additional 256,023 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Royal Bank of Canada by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after acquiring an additional 190,341 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

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.