Achmea Investment Management B.V. Invests $1.22 Million in Royal Bank of Canada (NYSE:RY)

Achmea Investment Management B.V. purchased a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,157 shares of the financial services provider’s stock, valued at approximately $1,224,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Royal Bank of Canada by 9.0% during the 4th 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. Avantax Advisory Services Inc. boosted its stake in Royal Bank of Canada by 15.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 10,097 shares of the financial services provider’s stock worth $1,217,000 after purchasing an additional 1,337 shares during the period. Hopwood Financial Services Inc. bought a new position in Royal Bank of Canada in the 4th quarter worth about $60,000. EverSource Wealth Advisors LLC boosted its stake in Royal Bank of Canada by 10.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,628 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 157 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in Royal Bank of Canada by 6.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the financial services provider’s stock worth $1,831,000 after purchasing an additional 889 shares during the period. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on RY. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. BMO Capital Markets cut their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Performance

NYSE:RY opened at $111.52 on Friday. The stock has a market cap of $157.43 billion, a P/E ratio of 13.50, a PEG ratio of 1.80 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The business’s 50-day moving average price is $118.61 and its two-hundred day moving average price is $121.52.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.68%. Royal Bank of Canada’s dividend payout ratio is 45.96%.

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.