Royal Bank of Canada (NYSE:RY) Shares Bought by Financial Management Professionals Inc.

Financial Management Professionals Inc. raised its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 26.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 426 shares of the financial services provider’s stock after acquiring an additional 90 shares during the quarter. Financial Management Professionals Inc.’s holdings in Royal Bank of Canada were worth $51,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RY. Capital Performance Advisors LLP purchased a new position in Royal Bank of Canada during the third quarter worth approximately $25,000. Dunhill Financial LLC purchased a new position in shares of Royal Bank of Canada during the 3rd quarter worth $25,000. Larson Financial Group LLC acquired a new position in shares of Royal Bank of Canada during the 3rd quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of 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 valued at $28,000 after purchasing an additional 118 shares during the period. Finally, Grove Bank & Trust acquired a new stake in Royal Bank of Canada during the third quarter worth about $28,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on RY shares. BMO Capital Markets dropped their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at $120.46 on Monday. The stock has a market capitalization of $170.29 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. 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 business has a 50-day moving average of $122.59 and a 200 day moving average of $119.40. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. The ex-dividend date is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a yield of 3.49%. Royal Bank of Canada’s dividend payout ratio is 50.85%.

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.