Royal Bank of Canada (NYSE:RY) Shares Acquired by Tremblant Capital Group

Tremblant Capital Group lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,960 shares of the financial services provider’s stock after purchasing an additional 2,708 shares during the quarter. Tremblant Capital Group’s holdings in Royal Bank of Canada were worth $2,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RY. Two Sigma Advisers LP acquired a new stake in Royal Bank of Canada in the 4th quarter valued at approximately $3,398,000. State of Wyoming increased its position in Royal Bank of Canada by 304.7% in the 4th quarter. State of Wyoming now owns 3,201 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 2,410 shares during the period. Polar Asset Management Partners Inc. increased its position in 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 during the period. Quantinno Capital Management LP increased its position in 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 during the period. Finally, Man Group plc increased its position in 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 during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. 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 raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Finally, Scotiabank began coverage on Royal Bank of Canada in a research note on Thursday. They set 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Performance

RY opened at $125.80 on Monday. The firm has a market cap of $177.58 billion, a PE ratio of 15.23, a P/E/G ratio of 1.80 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $115.99 and a 200-day simple moving average of $119.33. Royal Bank of Canada has a fifty-two week low of $102.44 and a fifty-two week high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is presently 46.18%.

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.