Rempart Asset Management Inc. Has $26.11 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Rempart Asset Management Inc. cut its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 217,002 shares of the financial services provider’s stock after selling 3,197 shares during the period. Royal Bank of Canada comprises 5.2% of Rempart Asset Management Inc.’s portfolio, making the stock its 5th largest holding. Rempart Asset Management Inc.’s holdings in Royal Bank of Canada were worth $26,106,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in Royal Bank of Canada by 2,995.0% in the 4th quarter. Versant Capital Management Inc now owns 619 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 599 shares in the last quarter. Trust Co of the South boosted its position in shares of Royal Bank of Canada by 0.9% during the fourth quarter. Trust Co of the South now owns 25,043 shares of the financial services provider’s stock worth $3,018,000 after acquiring an additional 225 shares during the last quarter. 1ST Source Bank purchased a new position in Royal Bank of Canada during the third quarter valued at $214,000. Logan Capital Management Inc. increased its holdings in Royal Bank of Canada by 4.1% in the 3rd quarter. Logan Capital Management Inc. now owns 33,003 shares of the financial services provider’s stock valued at $4,116,000 after acquiring an additional 1,293 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Royal Bank of Canada during the 3rd quarter valued at about $748,000. 45.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RY has been the subject of a number of recent research reports. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. BMO Capital Markets decreased their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Finally, StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. One equities 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Down 0.7 %

RY stock traded down $0.89 during midday trading on Wednesday, hitting $120.44. The company’s stock had a trading volume of 108,702 shares, compared to its average volume of 625,086. The firm has a market capitalization of $170.26 billion, a P/E ratio of 14.58, a PEG ratio of 1.86 and a beta of 0.87. The firm has a 50-day simple moving average of $123.07 and a 200-day simple moving average of $118.73. Royal Bank of Canada has a 52-week low of $93.97 and a 52-week high of $128.05. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a $1.0522 dividend. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.49%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is 52.91%.

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.