Aviva PLC Has $102.56 Million Stock Position in Royal Bank of Canada (NYSE:RY)

Aviva PLC lifted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 852,311 shares of the financial services provider’s stock after buying an additional 110,754 shares during the period. Aviva PLC’s holdings in Royal Bank of Canada were worth $102,560,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RY. Dunhill Financial LLC bought a new stake in Royal Bank of Canada in the third quarter valued at $25,000. WealthTrak Capital Management LLC acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at $28,000. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada in the 4th quarter worth about $29,000. Kieckhefer Group LLC bought a new stake in shares of Royal Bank of Canada in the 4th quarter worth about $36,000. Finally, Crews Bank & Trust acquired a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $36,000. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

RY has been the topic of a number of recent analyst reports. Cibc World Mkts upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Friday. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $156.50.

Royal Bank of Canada Trading Down 3.5 %

Shares of NYSE RY opened at $111.13 on Friday. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The company has a 50-day moving average of $116.60 and a two-hundred day moving average of $120.71. The company has a market cap of $156.88 billion, a PE ratio of 13.45, a P/E/G ratio of 1.80 and a beta of 0.82. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is 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.