Desjardins Global Asset Management Inc. Has $120,000 Holdings in Royal Bank of Canada (NYSE:RY)

Desjardins Global Asset Management Inc. lessened its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 57.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,184 shares of the financial services provider’s stock after selling 1,582 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Royal Bank of Canada were worth $120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RY. Banque Cantonale Vaudoise acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter worth about $26,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Royal Bank of Canada in the 3rd quarter valued at about $34,000. Money Concepts Capital Corp purchased a new stake in Royal Bank of Canada in the 4th quarter valued at about $38,000. Cullen Frost Bankers Inc. purchased a new stake in Royal Bank of Canada in the 3rd quarter valued at about $44,000. Finally, Janiczek Wealth Management LLC increased its stake in Royal Bank of Canada by 36.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock valued at $74,000 after buying an additional 197 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on RY. Barclays began coverage on shares of Royal Bank of Canada in a research note on Wednesday, March 20th. They issued an “equal weight” rating for the company. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Jefferies Financial Group assumed coverage on shares of Royal Bank of Canada in a research note on Thursday, February 22nd. They set a “hold” rating for the company. Finally, BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $140.00 to $150.00 in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $137.67.

Royal Bank of Canada Trading Up 1.0 %

Shares of RY stock opened at $97.86 on Friday. The company has a 50 day moving average of $98.97 and a 200-day moving average of $94.22. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $103.88. The firm has a market cap of $138.44 billion, a P/E ratio of 12.32, a PEG ratio of 1.67 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.05. The company had revenue of $9.98 billion during the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. Sell-side analysts anticipate that Royal Bank of Canada will post 8.45 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be issued a $1.0207 dividend. The ex-dividend date is Wednesday, April 24th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 annualized dividend and a yield of 4.17%. Royal Bank of Canada’s dividend payout ratio (DPR) is 37.66%.

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.