Royal Bank of Canada (NYSE:RY) Shares Acquired by Paragon Private Wealth Management LLC

Paragon Private Wealth Management LLC grew its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,485 shares of the financial services provider’s stock after purchasing an additional 329 shares during the quarter. Paragon Private Wealth Management LLC’s holdings in Royal Bank of Canada were worth $299,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in Royal Bank of Canada during the third quarter worth about $25,000. Dunhill Financial LLC acquired a new position in Royal Bank of Canada during the third quarter worth about $25,000. Larson Financial Group LLC acquired a new position in Royal Bank of Canada during the third quarter worth about $26,000. Roxbury Financial LLC acquired a new position in Royal Bank of Canada during the fourth quarter worth about $29,000. Finally, Kieckhefer Group LLC acquired a new position in Royal Bank of Canada during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RY shares. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Finally, BMO Capital Markets decreased their target price 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. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $113.05 on Tuesday. The company’s 50 day simple moving average is $119.40 and its 200-day simple moving average is $121.71. The company has a market capitalization of $159.89 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 1 year low of $95.84 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 Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 45.96%.

Royal Bank of Canada 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.