MassMutual Private Wealth & Trust FSB Has $159,000 Position in Royal Bank of Canada (NYSE:RY)

MassMutual Private Wealth & Trust FSB increased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 17.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,321 shares of the financial services provider’s stock after acquiring an additional 192 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Royal Bank of Canada were worth $159,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RY. FMR LLC increased its holdings in shares of Royal Bank of Canada by 75.8% during the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after acquiring an additional 7,702,585 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Royal Bank of Canada by 165.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock valued at $361,532,000 after buying an additional 1,804,022 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Royal Bank of Canada in the 3rd quarter valued at $153,217,000. Geode Capital Management LLC grew its holdings in Royal Bank of Canada by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after buying an additional 541,760 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Royal Bank of Canada by 18.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock valued at $291,925,000 after buying an additional 359,719 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Performance

NYSE:RY opened at $121.03 on Thursday. The stock has a fifty day moving average price of $122.49 and a 200-day moving average price of $119.65. The company has a market cap of $171.17 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.80 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a fifty-two week low of $93.97 and a fifty-two week high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a dividend of $1.0522 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio is currently 49.76%.

Wall Street Analyst Weigh In

A number of research analysts have commented on RY shares. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. BMO Capital Markets decreased 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. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.50.

About Royal Bank of Canada

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.