Daiwa Securities Group Inc. Has $578,000 Stake in Royal Bank of Canada (NYSE:RY)

Daiwa Securities Group Inc. lowered its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,800 shares of the financial services provider’s stock after selling 150 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Royal Bank of Canada were worth $578,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Royal Bank of Canada by 0.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,398 shares of the financial services provider’s stock worth $62,835,000 after buying an additional 1,860 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Royal Bank of Canada by 485.4% in the 4th quarter. Larson Financial Group LLC now owns 1,206 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,000 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in shares of Royal Bank of Canada by 1.1% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,242,836 shares of the financial services provider’s stock worth $149,662,000 after purchasing an additional 13,781 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Royal Bank of Canada in the 4th quarter worth approximately $2,772,000. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Royal Bank of Canada by 735.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 77,538 shares of the financial services provider’s stock worth $9,344,000 after purchasing an additional 68,255 shares during the period. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RY. BMO Capital Markets lowered their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Trading Up 2.5 %

Shares of RY stock opened at $111.52 on Monday. The company’s fifty day simple moving average is $118.61 and its two-hundred day simple moving average is $121.54. The stock has a market capitalization of $157.43 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 1.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.68%. Royal Bank of Canada’s payout ratio is currently 45.96%.

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.