State of Tennessee Department of Treasury Acquires 4,644 Shares of Royal Bank of Canada (NYSE:RY)

State of Tennessee Department of Treasury increased its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 813,769 shares of the financial services provider's stock after purchasing an additional 4,644 shares during the quarter. State of Tennessee Department of Treasury owned approximately 0.06% of Royal Bank of Canada worth $98,069,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

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

Royal Bank of Canada Trading Up 0.1 %

NYSE RY traded up $0.12 during trading hours on Friday, reaching $117.79. The company's stock had a trading volume of 787,287 shares, compared to its average volume of 1,099,738. Royal Bank of Canada has a 52 week low of $96.52 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 stock has a market cap of $166.28 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.80 and a beta of 0.82. The firm has a fifty day simple moving average of $114.61 and a 200-day simple moving average of $119.69.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors 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.