Proficio Capital Partners LLC Acquires Shares of 48,807 Royal Bank of Canada (NYSE:RY)

Proficio Capital Partners LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 48,807 shares of the financial services provider’s stock, valued at approximately $5,882,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its stake in Royal Bank of Canada by 75.8% in the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after purchasing an additional 7,702,585 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Royal Bank of Canada by 0.9% in the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after buying an additional 124,348 shares during the period. Geode Capital Management LLC raised its position in shares of Royal Bank of Canada by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after buying an additional 541,760 shares in the last quarter. Fiera Capital Corp boosted its position in shares of Royal Bank of Canada by 3.7% during the 3rd quarter. Fiera Capital Corp now owns 4,759,385 shares of the financial services provider’s stock worth $594,791,000 after acquiring an additional 171,125 shares in the last quarter. Finally, Alberta Investment Management Corp increased its stake in Royal Bank of Canada by 0.4% in the fourth quarter. Alberta Investment Management Corp now owns 3,583,817 shares of the financial services provider’s stock valued at $431,892,000 after acquiring an additional 15,300 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RY shares. BMO Capital Markets cut their target price on 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. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Down 1.1 %

NYSE RY opened at $116.87 on Tuesday. The company has a market cap of $165.30 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The business’s fifty day moving average is $120.07 and its 200 day moving average is $121.66.

Royal Bank of Canada Cuts Dividend

The company 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 dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.73%.

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.