Achmea Investment Management B.V. Acquires New Position in Royal Bank of Canada (NYSE:RY)

Achmea Investment Management B.V. purchased a new position in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, Holdings Channel reports. The fund purchased 10,157 shares of the financial services provider’s stock, valued at approximately $1,224,000.

A number of other large investors have also bought and sold shares of the stock. FMR LLC increased its stake in Royal Bank of Canada by 75.8% in the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after purchasing an additional 7,702,585 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Royal Bank of Canada by 9.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider’s stock worth $1,338,156,000 after purchasing an additional 921,276 shares during the period. Geode Capital Management LLC grew its position in shares of Royal Bank of Canada by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock worth $805,616,000 after buying an additional 541,760 shares during the last quarter. Alberta Investment Management Corp grew its position in shares of Royal Bank of Canada by 0.4% in the 4th quarter. Alberta Investment Management Corp now owns 3,583,817 shares of the financial services provider’s stock worth $431,892,000 after buying an additional 15,300 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Royal Bank of Canada by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock worth $427,589,000 after buying an additional 64,450 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Trading Up 2.5 %

Royal Bank of Canada stock opened at $111.52 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $118.61 and its two-hundred day simple moving average is $121.52. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05. The company has a market capitalization of $157.43 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

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

Analyst Ratings Changes

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

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.