Axa S.A. Grows Position in Royal Bank of Canada (NYSE:RY)

Axa S.A. increased its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 397,898 shares of the financial services provider's stock after buying an additional 6,531 shares during the quarter. Axa S.A.'s holdings in Royal Bank of Canada were worth $47,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ruggaard & Associates LLC raised its holdings in shares of Royal Bank of Canada by 1.8% during the fourth quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider's stock valued at $565,000 after acquiring an additional 85 shares in the last quarter. Financial Management Professionals Inc. raised its holdings in Royal Bank of Canada by 26.8% in the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider's stock worth $51,000 after purchasing an additional 90 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Royal Bank of Canada by 3.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock worth $345,000 after purchasing an additional 90 shares during the period. Ballentine Partners LLC boosted its stake in shares of Royal Bank of Canada by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider's stock valued at $519,000 after purchasing an additional 94 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its position in shares of Royal Bank of Canada by 45.7% during the fourth quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider's stock valued at $37,000 after buying an additional 96 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com cut Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Thursday. 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of "Moderate Buy" and an average price target of $156.50.

Royal Bank of Canada Stock Up 1.0 %

RY stock opened at $121.23 on Friday. The business has a 50 day moving average of $114.67 and a 200 day moving average of $119.54. The firm has a market cap of $171.14 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a twelve month low of $100.32 and a twelve month high of $128.05. 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 Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a $1.0251 dividend. This represents a $4.10 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is presently 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.

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