305 Shares in Royal Bank of Canada (NYSE:RY) Purchased by Transce3nd LLC

Transce3nd LLC acquired a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 305 shares of the financial services provider’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RY. Ruggaard & Associates LLC boosted its position in Royal Bank of Canada by 1.8% during the fourth quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider’s stock worth $565,000 after purchasing an additional 85 shares during the period. Financial Management Professionals Inc. lifted its stake in shares of Royal Bank of Canada by 26.8% in the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock worth $51,000 after buying an additional 90 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Royal Bank of Canada by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after buying an additional 94 shares during the period. Richardson Financial Services Inc. grew its stake in Royal Bank of Canada by 45.7% in the 4th quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider’s stock valued at $37,000 after buying an additional 96 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its stake in Royal Bank of Canada by 0.8% in the 4th quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider’s stock valued at $1,502,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday, April 4th. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have 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 “Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $117.85 on Wednesday. The stock has a market cap of $166.37 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. The stock has a 50-day moving average of $114.73 and a 200-day moving average of $119.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 46.18%.

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.