Callan Family Office LLC Buys Shares of 2,997 Royal Bank of Canada (NYSE:RY)

Callan Family Office LLC purchased a new stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,997 shares of the financial services provider's stock, valued at approximately $361,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Addison Advisors LLC increased its position in shares of Royal Bank of Canada by 9.5% in the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider's stock valued at $118,000 after acquiring an additional 82 shares during the period. Financial Management Professionals Inc. grew its stake in Royal Bank of Canada by 26.8% during the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 90 shares during the last quarter. Drive Wealth Management LLC increased its holdings in shares of Royal Bank of Canada by 3.4% in the third quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider's stock valued at $349,000 after purchasing an additional 92 shares during the period. Ballentine Partners LLC raised its stake in shares of Royal Bank of Canada by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider's stock worth $519,000 after purchasing an additional 94 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its holdings in shares of Royal Bank of Canada by 45.7% during the fourth quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider's stock worth $37,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts have issued reports on RY shares. CIBC reissued a "neutral" rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Barclays upgraded shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research note on Thursday, November 21st. BMO Capital Markets decreased their target price 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. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, TD Securities cut Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

RY stock traded down $2.40 during midday trading on Thursday, hitting $108.88. 2,254,515 shares of the stock traded hands, compared to its average volume of 1,006,645. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. 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 stock's fifty day simple moving average is $118.79 and its 200-day simple moving average is $121.51. The firm has a market cap of $153.99 billion, a P/E ratio of 13.18, a PEG ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 45.96%.

Royal Bank of Canada 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.