Royal Bank of Canada (NYSE:RY) Shares Purchased by Manitou Investment Management Ltd.

Manitou Investment Management Ltd. lifted its holdings in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 266,467 shares of the financial services provider’s stock after buying an additional 20,208 shares during the quarter. Royal Bank of Canada comprises approximately 4.5% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 6th biggest holding. Manitou Investment Management Ltd.’s holdings in Royal Bank of Canada were worth $29,351,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. 1832 Asset Management L.P. grew its position in shares of Royal Bank of Canada by 1.4% during the 4th quarter. 1832 Asset Management L.P. now owns 17,771,974 shares of the financial services provider’s stock worth $1,890,293,000 after buying an additional 249,205 shares during the period. Norges Bank bought a new position in Royal Bank of Canada in the fourth quarter valued at approximately $1,635,969,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Royal Bank of Canada by 9.1% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 6,932,690 shares of the financial services provider’s stock valued at $736,334,000 after buying an additional 577,839 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Royal Bank of Canada by 2.5% in the fourth quarter. JPMorgan Chase & Co. now owns 5,028,019 shares of the financial services provider’s stock worth $533,673,000 after purchasing an additional 120,571 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Royal Bank of Canada in the fourth quarter worth $460,138,000. Institutional investors own 41.50% of the company’s stock.

Several equities analysts have commented on RY shares. Argus upped their price objective on shares of Royal Bank of Canada from $121.00 to $125.00 and gave the company a “buy” rating in a report on Monday, June 6th. Scotiabank dropped their target price on shares of Royal Bank of Canada from C$150.00 to C$147.00 in a report on Friday, May 20th. BMO Capital Markets dropped their target price on shares of Royal Bank of Canada from C$142.00 to C$140.00 in a report on Friday, May 27th. Credit Suisse Group dropped their target price on shares of Royal Bank of Canada from C$153.00 to C$152.00 in a report on Friday, May 27th. Finally, CIBC raised shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Monday, April 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.84.

NYSE:RY opened at $96.74 on Thursday. The company has a market capitalization of $135.78 billion, a PE ratio of 10.58, a P/E/G ratio of 2.15 and a beta of 0.90. Royal Bank of Canada has a fifty-two week low of $94.94 and a fifty-two week high of $119.41. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50 day simple moving average of $101.72 and a two-hundred day simple moving average of $107.08.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Tuesday, July 26th will be paid a dividend of $0.995 per share. The ex-dividend date is Monday, July 25th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.94. This represents a $3.98 annualized dividend and a yield of 4.11%. Royal Bank of Canada’s dividend payout ratio (DPR) is 42.01%.

About Royal Bank of Canada (Get Rating)

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.

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

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