Assenagon Asset Management S.A. Decreases Stock Position in Royal Bank of Canada (NYSE:RY)

Assenagon Asset Management S.A. cut its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,126 shares of the financial services provider’s stock after selling 1,607 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Royal Bank of Canada were worth $5,318,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Royal Bank of Canada during the third quarter worth $25,000. Dunhill Financial LLC acquired a new stake in shares of Royal Bank of Canada during the third quarter worth $25,000. Larson Financial Group LLC acquired a new stake in shares of Royal Bank of Canada during the third quarter worth $26,000. Grove Bank & Trust acquired a new stake in shares of Royal Bank of Canada during the third quarter worth $28,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Royal Bank of Canada by 110.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 118 shares during the period. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Performance

Shares of RY opened at $120.46 on Tuesday. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05. The company has a 50-day moving average of $122.59 and a two-hundred day moving average of $119.47. The stock has a market cap of $170.29 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.85%.

Analysts Set New Price Targets

A number of brokerages have weighed in on RY. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. BMO Capital Markets dropped their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. Finally, TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Royal Bank of Canada has an average 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.