Ossiam Increases Stake in Royal Bank of Canada (NYSE:RY)

Ossiam grew its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 16.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,897 shares of the financial services provider’s stock after acquiring an additional 14,152 shares during the quarter. Ossiam’s holdings in Royal Bank of Canada were worth $9,732,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Syverson Strege & Co bought a new position in shares of Royal Bank of Canada in the first quarter worth about $28,000. Delta Asset Management LLC TN bought a new position in shares of Royal Bank of Canada in the fourth quarter worth about $29,000. Money Concepts Capital Corp bought a new position in shares of Royal Bank of Canada in the fourth quarter worth about $38,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Royal Bank of Canada in the fourth quarter worth about $39,000. Finally, Western Pacific Wealth Management LP grew its holdings in shares of Royal Bank of Canada by 1,772.7% in the first quarter. Western Pacific Wealth Management LP now owns 618 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 42.02% of the company’s stock.

Analyst Ratings Changes

RY has been the topic of several recent research reports. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Thursday. Credit Suisse Group increased their target price on shares of Royal Bank of Canada from $138.00 to $139.00 and gave the stock an “outperform” rating in a report on Friday, August 25th. CIBC cut shares of Royal Bank of Canada from a “sector outperform” rating to a “neutral” rating in a report on Tuesday, May 16th. Finally, Barclays increased their target price on shares of Royal Bank of Canada from $122.00 to $124.00 and gave the stock an “underweight” rating in a report on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $138.60.

Royal Bank of Canada Stock Performance

RY stock opened at $88.09 on Friday. The firm has a market cap of $122.99 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.76 and a beta of 0.84. The firm has a 50-day simple moving average of $94.07 and a two-hundred day simple moving average of $95.22. Royal Bank of Canada has a one year low of $83.63 and a one year high of $104.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, October 26th will be given a dividend of $1.019 per share. This represents a $4.08 annualized dividend and a dividend yield of 4.63%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.00. The ex-dividend date is Wednesday, October 25th. Royal Bank of Canada’s dividend payout ratio is presently 51.75%.

Royal Bank of Canada Company 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.