Guardian Partners Inc. Invests $60.96 Million in Royal Bank of Canada (NYSE:RY)

Guardian Partners Inc. acquired a new stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 500,978 shares of the financial services provider's stock, valued at approximately $60,962,000. Royal Bank of Canada makes up 6.2% of Guardian Partners Inc.'s investment portfolio, making the stock its largest holding.

A number of other hedge funds also recently made changes to their positions in RY. Dunhill Financial LLC bought a new position in shares of Royal Bank of Canada during the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada during the 3rd quarter valued at $26,000. Roxbury Financial LLC bought a new position in Royal Bank of Canada in the 4th quarter valued at $29,000. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Royal Bank of Canada during the fourth quarter valued at $36,000. Finally, Kieckhefer Group LLC bought a new position in Royal Bank of Canada in the 4th quarter worth about $36,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RY shares. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. CIBC restated a "neutral" rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Finally, BMO Capital Markets lowered their price target on 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 investment 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $156.50.

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Royal Bank of Canada Price Performance

NYSE:RY traded down $1.54 during trading hours on Thursday, reaching $114.73. 708,559 shares of the company were exchanged, compared to its average volume of 982,773. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. 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's 50-day moving average is $117.70 and its 200-day moving average is $121.17. The firm has a market cap of $161.96 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.57%. Royal Bank of Canada's payout ratio is currently 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.