Sara Bay Financial bought a new position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,484 shares of the financial services provider's stock, valued at approximately $661,000.
A number of other large investors also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at $25,000. Dunhill Financial LLC acquired a new position in Royal Bank of Canada during the third quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new stake in shares of Royal Bank of Canada in the third quarter worth $26,000. Grove Bank & Trust purchased a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $28,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.
Analyst Upgrades and Downgrades
RY has been the topic of several analyst reports. StockNews.com downgraded Royal Bank of Canada from a "hold" rating to a "sell" rating in a report on Wednesday, January 1st. TD Securities lowered Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. 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 reduced their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $156.50.
Read Our Latest Stock Analysis on Royal Bank of Canada
Royal Bank of Canada Stock Performance
Royal Bank of Canada stock traded up $0.38 during midday trading on Friday, reaching $120.46. 1,588,793 shares of the stock traded hands, compared to its average volume of 675,270. The firm has a fifty day moving average price of $122.59 and a two-hundred day moving average price of $119.40. Royal Bank of Canada has a fifty-two week low of $93.97 and a fifty-two week high of $128.05. The firm has a market cap of $170.29 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.77 and a beta of 0.87. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.
Royal Bank of Canada Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a $1.0522 dividend. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.49%. Royal Bank of Canada's dividend payout ratio is presently 50.85%.
About Royal Bank of Canada
(
Free Report)
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.
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