Royal Bank of Canada (NYSE:RY) Position Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.4% during the fourth quarter, HoldingsChannel reports. The fund owned 521,398 shares of the financial services provider’s stock after acquiring an additional 1,860 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Royal Bank of Canada were worth $62,835,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RY. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada in the 3rd quarter worth about $25,000. Assetmark Inc. lifted its position in shares of Royal Bank of Canada by 274.5% in the 3rd quarter. Assetmark Inc. now owns 3,775 shares of the financial services provider’s stock worth $471,000 after buying an additional 2,767 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Royal Bank of Canada by 5.5% in the 3rd quarter. Lindbrook Capital LLC now owns 2,090 shares of the financial services provider’s stock worth $261,000 after buying an additional 109 shares during the last quarter. Addison Advisors LLC lifted its position in shares of Royal Bank of Canada by 9.5% in the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after buying an additional 82 shares during the last quarter. Finally, Tacita Capital Inc lifted its position in shares of Royal Bank of Canada by 12.7% in the 3rd quarter. Tacita Capital Inc now owns 32,818 shares of the financial services provider’s stock worth $4,101,000 after buying an additional 3,700 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Stock Performance

Shares of RY opened at $115.07 on Monday. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05. The company has a 50-day moving average of $119.55 and a two-hundred day moving average of $121.71. The stock has a market cap of $162.74 billion, a price-to-earnings ratio of 13.93, 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 Cuts Dividend

The company 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 dividend yield of 3.56%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.96%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RY shares. BMO Capital Markets dropped 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 report on Thursday, December 5th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Two 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Profile

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.