Generali Asset Management SPA SGR Invests $3.20 Million in Royal Bank of Canada (NYSE:RY)

Generali Asset Management SPA SGR acquired a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 26,541 shares of the financial services provider’s stock, valued at approximately $3,198,000.

Other large investors have also recently made changes to their positions in the company. Dunhill Financial LLC bought a new position in shares of Royal Bank of Canada during the 3rd quarter valued at $25,000. Larson Financial Group LLC purchased a new stake in Royal Bank of Canada during the third quarter valued at about $26,000. Roxbury Financial LLC bought a new position in shares of Royal Bank of Canada during the fourth quarter valued at about $29,000. Kieckhefer Group LLC purchased a new position in shares of Royal Bank of Canada in the fourth quarter worth about $36,000. Finally, Crews Bank & Trust purchased a new position in Royal Bank of Canada in the 4th quarter worth approximately $36,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets decreased their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Price Performance

RY opened at $114.25 on Thursday. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. The company has a market cap of $161.28 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $118.11 and a two-hundred day simple moving average of $121.38.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is currently 45.96%.

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.