Mitsubishi UFJ Trust & Banking Corp Has $5.85 Million Stake in Royal Bank of Canada (NYSE:RY)

Mitsubishi UFJ Trust & Banking Corp grew its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 450.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 48,400 shares of the financial services provider’s stock after acquiring an additional 39,600 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Royal Bank of Canada were worth $5,846,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Dunhill Financial LLC acquired a new position in Royal Bank of Canada during the 3rd quarter worth about $25,000. Larson Financial Group LLC acquired a new position in shares of Royal Bank of Canada during the third quarter worth approximately $26,000. Roxbury Financial LLC acquired a new position in shares of Royal Bank of Canada during the fourth quarter worth approximately $29,000. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Royal Bank of Canada during the fourth quarter valued at approximately $36,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Royal Bank of Canada in the fourth quarter valued at approximately $36,000. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. BMO Capital Markets reduced their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Down 2.3 %

NYSE:RY opened at $112.04 on Monday. 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 12-month low of $95.84 and a 12-month high of $128.05. The stock’s fifty day simple moving average is $117.43 and its 200-day simple moving average is $121.03. The firm has a market capitalization of $158.17 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.66%. Royal Bank of Canada’s payout ratio is currently 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.