Citrine Capital LLC Invests $652,000 in Royal Bank of Canada (NYSE:RY)

Citrine Capital LLC purchased a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,412 shares of the financial services provider’s stock, valued at approximately $652,000. Royal Bank of Canada accounts for 0.5% of Citrine Capital LLC’s holdings, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors have also modified their holdings of RY. Capital Performance Advisors LLP acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at $25,000. Dunhill Financial LLC acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at $25,000. Larson Financial Group LLC acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. raised its stake 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 acquiring an additional 118 shares in the last quarter. Finally, Grove Bank & Trust acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at $28,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RY has been the topic of several analyst reports. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. BMO Capital Markets cut their price target on 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. Finally, TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $119.34 on Friday. The stock’s 50-day moving average is $122.04 and its two-hundred day moving average is $120.40. The firm has a market cap of $168.78 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.82 and a beta of 0.87. 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 quick ratio of 0.86 and a current ratio of 0.86.

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 issued a dividend of $1.0522 per share. This is a positive change 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 3.53%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.76%.

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.