Verum Partners LLC Makes New $2.35 Million Investment in Royal Bank of Canada (NYSE:RY)

Verum Partners LLC purchased a new position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 19,525 shares of the financial services provider's stock, valued at approximately $2,353,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in Royal Bank of Canada in the third quarter worth about $25,000. Dunhill Financial LLC bought a new stake in Royal Bank of Canada in the third quarter worth about $25,000. Larson Financial Group LLC bought a new stake in Royal Bank of Canada in the third quarter worth about $26,000. Grove Bank & Trust bought a new stake in Royal Bank of Canada in the third quarter worth about $28,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider's stock worth $28,000 after purchasing an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

RY has been the subject of several research analyst reports. TD Securities downgraded shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. StockNews.com downgraded shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a research note on Wednesday, January 1st. BMO Capital Markets cut their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. Finally, Barclays raised shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $156.50.

Royal Bank of Canada Stock Performance

NYSE:RY traded down $0.84 during mid-day trading on Wednesday, hitting $121.40. The company's stock had a trading volume of 196,899 shares, compared to its average volume of 1,100,933. Royal Bank of Canada has a 1 year low of $93.97 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 has a market cap of $171.70 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.80 and a beta of 0.87. The business's fifty day moving average is $122.49 and its two-hundred day moving average is $119.65.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.47%. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.03. Royal Bank of Canada's dividend payout ratio is 49.76%.

Royal Bank of Canada Company 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.