Graham Capital Management L.P. Takes Position in Royal Bank of Canada (NYSE:RY)

Graham Capital Management L.P. purchased a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 16,946 shares of the financial services provider’s stock, valued at approximately $2,042,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. WealthTrak Capital Management LLC bought a new stake in Royal Bank of Canada during the 4th quarter worth $28,000. Roxbury Financial LLC bought a new stake in Royal Bank of Canada during the 4th quarter worth $29,000. Optiver Holding B.V. bought a new stake in Royal Bank of Canada during the 4th quarter worth $35,000. Kieckhefer Group LLC bought a new stake in Royal Bank of Canada during the 4th quarter worth $36,000. Finally, Crews Bank & Trust bought a new stake in Royal Bank of Canada during the 4th quarter worth $36,000. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

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

Royal Bank of Canada Stock Up 0.2%

Shares of NYSE:RY opened at $120.09 on Monday. The company has a market capitalization of $169.53 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 1.80 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50-day moving average is $115.04 and its 200-day moving average is $119.33. Royal Bank of Canada has a 1 year low of $102.44 and a 1 year high of $128.05.

Royal Bank of Canada Cuts Dividend

The firm 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 $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is 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.