Royal Bank of Canada (NYSE:RY) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.8% in the 4th quarter, Holdings Channel reports. The firm owned 189,391 shares of the financial services provider’s stock after buying an additional 3,300 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Royal Bank of Canada were worth $22,824,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Achmea Investment Management B.V. purchased a new stake in shares of Royal Bank of Canada in the 4th quarter valued at about $1,224,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of 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 valued at $1,338,156,000 after purchasing an additional 921,276 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Royal Bank of Canada by 15.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 10,097 shares of the financial services provider’s stock valued at $1,217,000 after purchasing an additional 1,337 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of Royal Bank of Canada in the 4th quarter valued at about $60,000. Finally, EverSource Wealth Advisors LLC increased its position in Royal Bank of Canada by 10.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,628 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 157 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Performance

NYSE RY opened at $108.88 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 50 day moving average is $118.79 and its two-hundred day moving average is $121.51. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. The stock has a market capitalization of $153.99 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.96%.

Analyst Ratings Changes

Several brokerages recently issued reports on RY. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. 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. Finally, StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Three investment 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.