Sagespring Wealth Partners LLC Invests $317,000 in Royal Bank of Canada (NYSE:RY)

Sagespring Wealth Partners LLC purchased a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,627 shares of the financial services provider's stock, valued at approximately $317,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Ruggaard & Associates LLC raised its position in Royal Bank of Canada by 1.8% in the fourth quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider's stock worth $565,000 after acquiring an additional 85 shares in the last quarter. Financial Management Professionals Inc. grew its position in Royal Bank of Canada by 26.8% in the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider's stock worth $51,000 after acquiring an additional 90 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of Royal Bank of Canada by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider's stock valued at $519,000 after acquiring an additional 94 shares in the last quarter. Richardson Financial Services Inc. boosted its holdings in 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 valued at $37,000 after acquiring an additional 96 shares during the period. Finally, DAVENPORT & Co LLC grew its stake in shares of Royal Bank of Canada by 0.8% in the fourth quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider's stock worth $1,502,000 after acquiring an additional 101 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RY. StockNews.com raised shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. 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 equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $156.50.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded up $0.52 during mid-day trading on Friday, reaching $116.14. 1,090,937 shares of the company were exchanged, compared to its average volume of 1,104,813. 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 cap of $163.95 billion, a PE ratio of 14.06, a PEG ratio of 1.80 and a beta of 0.82. The company has a fifty day simple moving average of $114.82 and a 200-day simple moving average of $119.86. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.53%. Royal Bank of Canada's dividend payout ratio is currently 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.