Polar Asset Management Partners Inc. Has $2.39 Million Stock Position in Royal Bank of Canada (NYSE:RY)

Polar Asset Management Partners Inc. increased its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 32.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,837 shares of the financial services provider's stock after buying an additional 4,837 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Royal Bank of Canada were worth $2,391,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new position in Royal Bank of Canada during the fourth quarter worth $2,425,519,000. Geode Capital Management LLC raised its position in shares of Royal Bank of Canada by 31.2% in the 4th quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock valued at $1,027,061,000 after purchasing an additional 1,991,364 shares during the last quarter. APG Asset Management N.V. increased its holdings in Royal Bank of Canada by 1,600.9% in the 4th quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider's stock worth $166,084,000 after buying an additional 1,343,174 shares during the period. Vanguard Group Inc. grew its stake in shares of Royal Bank of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock worth $7,136,056,000 after purchasing an additional 1,104,975 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Royal Bank of Canada by 9.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock valued at $1,338,156,000 after buying an additional 921,276 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RY. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, May 9th. CIBC upgraded Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. Scotiabank began coverage on shares of Royal Bank of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating for the company. 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 research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $156.50.

Royal Bank of Canada Price Performance

Shares of RY traded down $0.70 during midday trading on Tuesday, reaching $126.44. The stock had a trading volume of 1,619,863 shares, compared to its average volume of 1,120,657. Royal Bank of Canada has a 52 week low of $102.44 and a 52 week high of $128.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The firm's 50 day moving average price is $116.31 and its 200-day moving average price is $119.37. The company has a market capitalization of $178.84 billion, a P/E ratio of 15.31, a P/E/G ratio of 1.80 and a beta of 0.89.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.24%. Royal Bank of Canada's dividend payout ratio is 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.