Ewing Morris & Co. Investment Partners Ltd. Takes Position in Royal Bank of Canada (NYSE:RY)

Ewing Morris & Co. Investment Partners Ltd. purchased a new position in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,900 shares of the financial services provider’s stock, valued at approximately $3,844,000. Royal Bank of Canada accounts for about 1.5% of Ewing Morris & Co. Investment Partners Ltd.’s investment portfolio, making the stock its 17th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Clark Capital Management Group Inc. grew its position in Royal Bank of Canada by 1.5% during the fourth quarter. Clark Capital Management Group Inc. now owns 561,637 shares of the financial services provider’s stock valued at $67,683,000 after buying an additional 8,435 shares during the period. Deutsche Bank AG lifted its position in shares of Royal Bank of Canada by 10.5% during the 4th quarter. Deutsche Bank AG now owns 1,650,842 shares of the financial services provider’s stock valued at $198,943,000 after buying an additional 157,031 shares in the last quarter. Colonial Trust Co SC grew its stake in shares of Royal Bank of Canada by 27.3% during the 4th quarter. Colonial Trust Co SC now owns 4,492 shares of the financial services provider’s stock valued at $541,000 after acquiring an additional 963 shares during the period. Caption Management LLC purchased a new stake in Royal Bank of Canada in the 4th quarter worth approximately $2,627,000. Finally, Cetera Investment Advisers raised its stake in Royal Bank of Canada by 16.2% during the 4th quarter. Cetera Investment Advisers now owns 40,583 shares of the financial services provider’s stock worth $4,891,000 after acquiring an additional 5,663 shares during the period. Institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RY shares. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday. CIBC upgraded Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Friday, April 4th. Finally, Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Performance

Shares of NYSE RY opened at $119.76 on Friday. The company has a market cap of $169.06 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.80 and a beta of 0.89. Royal Bank of Canada has a 52-week low of $101.96 and a 52-week high of $128.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s fifty day moving average is $114.89 and its two-hundred day moving average is $119.43.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.42%. Royal Bank of Canada’s dividend payout ratio (DPR) is 46.18%.

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.