Tremblant Capital Group Has $2.53 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Tremblant Capital Group lifted its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,960 shares of the financial services provider’s stock after buying an additional 2,708 shares during the period. Tremblant Capital Group’s holdings in Royal Bank of Canada were worth $2,527,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RY. Roxbury Financial LLC bought a new position in Royal Bank of Canada during the fourth quarter valued at about $29,000. WealthTrak Capital Management LLC acquired a new stake in Royal Bank of Canada during the fourth quarter worth about $28,000. Optiver Holding B.V. acquired a new stake in Royal Bank of Canada during the fourth quarter worth about $35,000. Jackson Grant Investment Advisers Inc. acquired a new stake in Royal Bank of Canada during the fourth quarter valued at approximately $36,000. Finally, Crews Bank & Trust acquired a new stake in Royal Bank of Canada during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Scotiabank began coverage on shares of Royal Bank of Canada in a research report on Thursday. They set a “sector outperform” rating for the company. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Finally, CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $125.80 on Monday. The firm has a market cap of $177.58 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89. The firm’s fifty day moving average is $115.99 and its 200-day moving average is $119.33. 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 52 week low of $102.44 and a 52 week high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.26%. Royal Bank of Canada’s payout ratio is 46.18%.

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.