Coleford Investment Management Ltd. Invests $24.73 Million in Royal Bank of Canada (NYSE:RY)

Coleford Investment Management Ltd. purchased a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 205,568 shares of the financial services provider's stock, valued at approximately $24,730,000. Royal Bank of Canada makes up about 6.5% of Coleford Investment Management Ltd.'s holdings, making the stock its 6th largest position.

Several other hedge funds have also recently added to or reduced their stakes in RY. WealthTrak Capital Management LLC bought a new stake in Royal Bank of Canada during the fourth quarter valued at approximately $28,000. Roxbury Financial LLC purchased a new stake in Royal Bank of Canada in the fourth quarter valued at $29,000. Kieckhefer Group LLC acquired a new position in Royal Bank of Canada during the fourth quarter worth $36,000. Crews Bank & Trust acquired a new position in Royal Bank of Canada in the 4th quarter valued at about $36,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new stake in Royal Bank of Canada during the 4th quarter worth approximately $36,000. Institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Stock Performance

Shares of NYSE RY traded up $2.30 during trading hours on Tuesday, reaching $117.51. The stock had a trading volume of 2,783,618 shares, compared to its average volume of 1,110,494. The firm has a 50-day moving average of $114.76 and a 200-day moving average of $119.78. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a market cap of $165.89 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.49%. Royal Bank of Canada's dividend payout ratio (DPR) is 46.18%.

Analyst Ratings Changes

RY has been the subject of several research analyst reports. Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. CIBC upgraded shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. Finally, StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Royal Bank of Canada has an average rating of "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.