State of Wyoming Grows Position in Royal Bank of Canada (NYSE:RY)

State of Wyoming raised its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 304.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,201 shares of the financial services provider’s stock after acquiring an additional 2,410 shares during the period. State of Wyoming’s holdings in Royal Bank of Canada were worth $386,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Polar Asset Management Partners Inc. raised its holdings in shares of Royal Bank of Canada by 32.2% in the 4th quarter. Polar Asset Management Partners Inc. now owns 19,837 shares of the financial services provider’s stock valued at $2,391,000 after acquiring an additional 4,837 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Royal Bank of Canada by 8.9% in the 4th quarter. Quantinno Capital Management LP now owns 59,153 shares of the financial services provider’s stock valued at $7,129,000 after acquiring an additional 4,837 shares in the last quarter. Man Group plc raised its holdings in shares of Royal Bank of Canada by 29.4% in the 4th quarter. Man Group plc now owns 38,076 shares of the financial services provider’s stock valued at $4,589,000 after acquiring an additional 8,646 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Royal Bank of Canada by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 1,649,256 shares of the financial services provider’s stock valued at $198,755,000 after acquiring an additional 5,821 shares in the last quarter. Finally, Logan Capital Management Inc. raised its holdings in shares of Royal Bank of Canada by 1.7% during the 4th quarter. Logan Capital Management Inc. now owns 33,565 shares of the financial services provider’s stock valued at $4,045,000 after buying an additional 562 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.6%

NYSE RY opened at $126.44 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a twelve month low of $102.44 and a twelve month high of $128.05. The firm has a market capitalization of $178.84 billion, a PE ratio of 15.31, a P/E/G ratio of 1.80 and a beta of 0.89. The stock’s 50 day moving average is $116.66 and its 200 day moving average is $119.42.

Royal Bank of Canada Cuts Dividend

The business 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 yield of 3.24%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 46.18%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RY shares. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. CIBC upgraded Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday, April 4th. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Finally, Scotiabank started coverage on Royal Bank of Canada in a research report on Thursday, May 15th. They issued a “sector outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Company 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.