Sage Mountain Advisors LLC Has $991,000 Position in Royal Bank of Canada (NYSE:RY)

Sage Mountain Advisors LLC raised its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,223 shares of the financial services provider’s stock after buying an additional 400 shares during the period. Sage Mountain Advisors LLC’s holdings in Royal Bank of Canada were worth $991,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Independent Advisor Alliance grew its position in shares of Royal Bank of Canada by 0.9% in the 4th quarter. Independent Advisor Alliance now owns 17,382 shares of the financial services provider’s stock valued at $2,095,000 after buying an additional 148 shares during the last quarter. Paragon Private Wealth Management LLC grew its position in shares of Royal Bank of Canada by 15.3% in the 4th quarter. Paragon Private Wealth Management LLC now owns 2,485 shares of the financial services provider’s stock valued at $299,000 after buying an additional 329 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Royal Bank of Canada by 0.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,398 shares of the financial services provider’s stock valued at $62,835,000 after buying an additional 1,860 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Royal Bank of Canada by 485.4% in the 4th quarter. Larson Financial Group LLC now owns 1,206 shares of the financial services provider’s stock valued at $145,000 after buying an additional 1,000 shares during the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. grew its position in shares of Royal Bank of Canada by 1.1% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,242,836 shares of the financial services provider’s stock valued at $149,662,000 after buying an additional 13,781 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

RY has been the topic of a number of analyst reports. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. BMO Capital Markets cut their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Down 1.8 %

Shares of NYSE:RY opened at $113.05 on Tuesday. The business’s 50 day simple moving average is $119.40 and its two-hundred day simple moving average is $121.71. The firm has a market cap of $159.89 billion, a P/E ratio of 13.69, a PEG ratio of 1.80 and a beta of 0.88. 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 has a 52-week low of $95.84 and a 52-week high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.63%. Royal Bank of Canada’s payout ratio is currently 45.96%.

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.