Canerector Inc. Acquires Shares of 65,000 Royal Bank of Canada (NYSE:RY)

Canerector Inc. purchased a new stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 65,000 shares of the financial services provider's stock, valued at approximately $7,833,000. Royal Bank of Canada makes up 12.2% of Canerector Inc.'s investment portfolio, making the stock its 5th largest position.

A number of other hedge funds have also recently made changes to their positions in RY. Polar Asset Management Partners Inc. boosted its stake in Royal Bank of Canada by 32.2% during the fourth quarter. Polar Asset Management Partners Inc. now owns 19,837 shares of the financial services provider's stock valued at $2,390,000 after buying an additional 4,837 shares during the period. Ascent Group LLC purchased a new stake in shares of Royal Bank of Canada in the 4th quarter valued at about $201,000. Forum Financial Management LP boosted its position in shares of Royal Bank of Canada by 7.8% during the 4th quarter. Forum Financial Management LP now owns 17,589 shares of the financial services provider's stock valued at $2,120,000 after acquiring an additional 1,276 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Royal Bank of Canada by 6.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 359,017 shares of the financial services provider's stock worth $43,272,000 after purchasing an additional 22,290 shares in the last quarter. Finally, Vise Technologies Inc. grew its holdings in shares of Royal Bank of Canada by 43.8% during the fourth quarter. Vise Technologies Inc. now owns 14,142 shares of the financial services provider's stock worth $1,704,000 after purchasing an additional 4,306 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Trading Up 0.1%

NYSE:RY traded up $0.19 during trading hours on Wednesday, reaching $129.05. The company's stock had a trading volume of 1,025,814 shares, compared to its average volume of 1,131,084. 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 market capitalization of $182.53 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.80 and a beta of 0.89. The firm has a 50-day simple moving average of $118.42 and a 200-day simple moving average of $119.63. Royal Bank of Canada has a 1 year low of $102.44 and a 1 year high of $129.46.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th were issued a $1.0251 dividend. The ex-dividend date of this dividend was Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.18%. Royal Bank of Canada's dividend payout ratio is currently 46.18%.

Analyst Upgrades and Downgrades

RY has been the topic of a number of recent analyst reports. Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Scotiabank assumed coverage on shares of Royal Bank of Canada in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Wall Street Zen upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, CIBC reissued an "outperform" rating on shares of Royal Bank of Canada in a research note on Tuesday, May 20th. Two 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.50.

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.