Cypress Capital Group boosted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 46.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,825 shares of the financial services provider’s stock after purchasing an additional 1,215 shares during the period. Cypress Capital Group’s holdings in Royal Bank of Canada were worth $288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aristotle Capital Management LLC acquired a new stake in Royal Bank of Canada in the first quarter valued at $147,000. Cornerstone Wealth Management LLC acquired a new stake in Royal Bank of Canada during the 2nd quarter worth about $154,000. Tuttle Tactical Management acquired a new stake in Royal Bank of Canada during the 2nd quarter worth about $203,000. Moloney Securities Asset Management LLC acquired a new stake in Royal Bank of Canada during the 2nd quarter worth about $222,000. Finally, New England Asset Management Inc. acquired a new stake in Royal Bank of Canada during the 2nd quarter worth about $223,000. Institutional investors and hedge funds own 40.05% of the company’s stock.

A number of brokerages have weighed in on RY. Scotia Howard Weill upgraded Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a report on Monday, September 10th. Scotiabank upgraded Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report on Monday, September 10th. Howard Weil upgraded Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a report on Monday, September 10th. ValuEngine upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. Finally, Zacks Investment Research downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Royal Bank of Canada presently has a consensus rating of “Hold” and a consensus target price of $97.20.

RY stock opened at $79.40 on Tuesday. The stock has a market cap of $114.38 billion, a PE ratio of 13.10, a P/E/G ratio of 1.58 and a beta of 1.15. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.13. Royal Bank of Canada has a 1 year low of $73.92 and a 1 year high of $87.10.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Thursday, October 25th will be given a dividend of $0.753 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Wednesday, October 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.73. Royal Bank of Canada’s dividend payout ratio is 47.19%.

Royal Bank of Canada Company Profile

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

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

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