May Hill Capital LLC Makes New Investment in Royal Bank of Canada (NYSE:RY)

May Hill Capital LLC acquired a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,592 shares of the financial services provider’s stock, valued at approximately $433,000.

Several other hedge funds also recently made changes to their positions in the business. Dunhill Financial LLC bought a new stake in Royal Bank of Canada during the third quarter worth approximately $25,000. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth $29,000. WealthTrak Capital Management LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth $28,000. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Royal Bank of Canada in the 4th quarter worth $36,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

NYSE RY opened at $112.66 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $159.04 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The company has a 50 day simple moving average of $117.27 and a 200-day simple moving average of $120.95. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 45.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, BMO Capital Markets reduced 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. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

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.