Generali Asset Management SPA SGR Invests $3.20 Million in Royal Bank of Canada (NYSE:RY)

Generali Asset Management SPA SGR purchased a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 26,541 shares of the financial services provider’s stock, valued at approximately $3,198,000.

A number of other institutional investors have also recently made changes to their positions in RY. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada during the 3rd quarter valued at $25,000. Larson Financial Group LLC bought a new position in shares of Royal Bank of Canada during the third quarter valued at $26,000. Roxbury Financial LLC purchased a new stake in shares of Royal Bank of Canada during the fourth quarter valued at $29,000. Kieckhefer Group LLC bought a new stake in Royal Bank of Canada in the 4th quarter worth about $36,000. Finally, Crews Bank & Trust bought a new stake in shares of Royal Bank of Canada in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

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

Royal Bank of Canada Trading Up 1.6 %

Royal Bank of Canada stock opened at $114.25 on Thursday. 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 has a 12-month low of $95.84 and a 12-month high of $128.05. The firm has a market capitalization of $161.28 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 1.80 and a beta of 0.88. The firm has a 50 day moving average of $118.11 and a 200 day moving average of $121.38.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.59%. Royal Bank of Canada’s 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.