Forsta AP Fonden Has $33.06 Million Position in Royal Bank of Canada (NYSE:RY)

Forsta AP Fonden reduced its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 12.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 310,600 shares of the financial services provider’s stock after selling 45,600 shares during the quarter. Forsta AP Fonden’s holdings in Royal Bank of Canada were worth $33,061,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Shell Asset Management Co. boosted its position in shares of Royal Bank of Canada by 3.8% in the first quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 100 shares during the period. HB Wealth Management LLC raised its stake in Royal Bank of Canada by 1.9% during the 2nd quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 100 shares during the last quarter. Muirfield Wealth Advisors LLC boosted its holdings in Royal Bank of Canada by 0.6% in the 2nd quarter. Muirfield Wealth Advisors LLC now owns 16,437 shares of the financial services provider’s stock valued at $1,749,000 after purchasing an additional 101 shares during the period. Sollinda Capital Management LLC grew its position in Royal Bank of Canada by 2.8% in the 2nd quarter. Sollinda Capital Management LLC now owns 3,674 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 101 shares during the last quarter. Finally, Certuity LLC grew its position in Royal Bank of Canada by 5.1% in the 2nd quarter. Certuity LLC now owns 2,177 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 106 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

NYSE:RY opened at $123.23 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a market cap of $174.38 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 1.97 and a beta of 0.86. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $123.54. The company’s 50-day moving average price is $113.00 and its two-hundred day moving average price is $105.87.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be given a dividend of $1.028 per share. The ex-dividend date is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.34%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.49%.

Analyst Ratings Changes

RY has been the subject of a number of research analyst reports. UBS Group assumed coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They issued a “buy” rating for the company. Argus upped their price target on Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 6th. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. BMO Capital Markets raised their target price on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Scotiabank upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

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.