J. Safra Sarasin Holding AG Increases Stake in Royal Bank of Canada (NYSE:RY)

J. Safra Sarasin Holding AG lifted its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 589,360 shares of the financial services provider's stock after purchasing an additional 4,252 shares during the quarter. Royal Bank of Canada accounts for about 1.2% of J. Safra Sarasin Holding AG's portfolio, making the stock its 21st largest position. J. Safra Sarasin Holding AG's holdings in Royal Bank of Canada were worth $71,027,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RY. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. Finally, Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $156.50.

Royal Bank of Canada Trading Up 0.1 %

Shares of NYSE RY traded up $0.12 during trading hours on Friday, hitting $117.79. The company's stock had a trading volume of 787,287 shares, compared to its average volume of 1,099,738. The business has a 50-day simple moving average of $114.61 and a 200-day simple moving average of $119.69. Royal Bank of Canada has a 12 month low of $96.52 and a 12 month high of $128.05. 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 stock has a market cap of $166.28 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 1.80 and a beta of 0.82.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.48%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is currently 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.