146,800 Shares in Royal Bank Of Canada (RY) Purchased by Payden & Rygel

Payden & Rygel purchased a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 146,800 shares of the financial services provider’s stock, valued at approximately $11,355,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its holdings in Royal Bank Of Canada by 25,974.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,267,110 shares of the financial services provider’s stock worth $381,962,000 after purchasing an additional 5,246,910 shares during the period. TD Asset Management Inc. increased its stake in Royal Bank Of Canada by 1.1% during the 3rd quarter. TD Asset Management Inc. now owns 41,729,683 shares of the financial services provider’s stock worth $3,221,184,000 after buying an additional 436,782 shares in the last quarter. Stevens Capital Management LP increased its stake in Royal Bank Of Canada by 585.6% during the 2nd quarter. Stevens Capital Management LP now owns 69,592 shares of the financial services provider’s stock worth $5,047,000 after buying an additional 59,441 shares in the last quarter. Highstreet Asset Management Inc. increased its stake in Royal Bank Of Canada by 2.6% during the 3rd quarter. Highstreet Asset Management Inc. now owns 867,803 shares of the financial services provider’s stock worth $67,143,000 after buying an additional 21,848 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Royal Bank Of Canada by 65.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,433,160 shares of the financial services provider’s stock worth $103,934,000 after buying an additional 567,152 shares in the last quarter. 40.54% of the stock is owned by institutional investors.

Royal Bank Of Canada (NYSE RY) traded down $0.27 during trading hours on Thursday, reaching $79.19. The company’s stock had a trading volume of 974,400 shares, compared to its average volume of 980,571. Royal Bank Of Canada has a 52 week low of $66.03 and a 52 week high of $80.98. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The stock has a market cap of $115,447.28, a price-to-earnings ratio of 13.77, a P/E/G ratio of 1.79 and a beta of 1.07.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, January 25th will be given a $0.7157 dividend. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.61%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 49.83%.

Several research firms have commented on RY. Scotiabank lowered Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note on Monday, August 21st. Howard Weil lowered Royal Bank Of Canada to a “sector perform” rating in a research note on Monday, August 21st. Zacks Investment Research upgraded Royal Bank Of Canada from a “sell” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Wednesday, August 9th. Canaccord Genuity reiterated a “hold” rating and set a $105.00 price objective on shares of Royal Bank Of Canada in a research note on Wednesday, November 29th. Finally, BidaskClub upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $93.60.

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About Royal Bank Of Canada

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

Institutional Ownership by Quarter for Royal Bank Of Canada (NYSE:RY)

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