Sumitomo Mitsui DS Asset Management Company Ltd Has $2.01 Million Stake in Royal Bank of Canada (NYSE:RY)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,635 shares of the financial services provider’s stock after selling 421 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Royal Bank of Canada were worth $2,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada in the third quarter valued at $25,000. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada in the third quarter valued at $25,000. Larson Financial Group LLC bought a new position in shares of Royal Bank of Canada in the 3rd quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Royal Bank of Canada by 110.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 118 shares during the last quarter. Finally, Grove Bank & Trust bought a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at about $28,000. 45.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on RY shares. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, BMO Capital Markets reduced their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Performance

NYSE:RY opened at $117.94 on Tuesday. The stock has a 50 day simple moving average of $121.79 and a 200 day simple moving average of $120.59. The stock has a market cap of $166.81 billion, a P/E ratio of 14.28, a PEG ratio of 1.78 and a beta of 0.87. Royal Bank of Canada has a 1-year low of $93.97 and a 1-year high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be given a $1.0522 dividend. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is presently 49.76%.

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.