Ethic Inc. Makes New $544,000 Investment in Royal Bank of Canada (NYSE:RY)

Ethic Inc. bought a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 4,513 shares of the financial services provider's stock, valued at approximately $544,000.

A number of other institutional investors have also added to or reduced their stakes in RY. Roxbury Financial LLC purchased a new position in shares of Royal Bank of Canada in the fourth quarter worth $29,000. WealthTrak Capital Management LLC purchased a new position in Royal Bank of Canada in the 4th quarter worth $28,000. Optiver Holding B.V. acquired a new stake in Royal Bank of Canada during the 4th quarter worth about $35,000. Jackson Grant Investment Advisers Inc. purchased a new stake in Royal Bank of Canada during the 4th quarter valued at about $36,000. Finally, Crews Bank & Trust acquired a new position in shares of Royal Bank of Canada in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Wall Street Analyst Weigh In

RY has been the topic of several recent research reports. Scotiabank started coverage on shares of Royal Bank of Canada in a report on Thursday. They issued a "sector outperform" rating on the stock. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Finally, CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $156.50.

Royal Bank of Canada Stock Up 1.0%

RY stock traded up $1.25 during mid-day trading on Monday, reaching $127.07. The company had a trading volume of 940,070 shares, compared to its average volume of 1,115,489. Royal Bank of Canada has a fifty-two week low of $102.44 and a fifty-two week high of $128.05. The company has a market capitalization of $179.73 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a fifty day simple moving average of $115.99 and a 200 day simple moving average of $119.33.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.23%. Royal Bank of Canada's dividend payout ratio (DPR) is presently 46.18%.

About Royal Bank of Canada

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.