Royal Bank of Canada (NYSE:RY) Stake Raised by Blue Trust Inc.

Blue Trust Inc. lifted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,340 shares of the financial services provider’s stock after acquiring an additional 495 shares during the period. Blue Trust Inc.’s holdings in Royal Bank of Canada were worth $2,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RY. Kingswood Wealth Advisors LLC increased its stake in Royal Bank of Canada by 78.7% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 2,923 shares of the financial services provider’s stock valued at $352,000 after buying an additional 1,287 shares during the period. PFG Investments LLC bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at approximately $215,000. Drive Wealth Management LLC increased its stake in shares of Royal Bank of Canada by 4.3% during the fourth quarter. Drive Wealth Management LLC now owns 2,919 shares of the financial services provider’s stock valued at $352,000 after acquiring an additional 120 shares during the period. Smith Chas P & Associates PA Cpas bought a new stake in Royal Bank of Canada during the fourth quarter worth approximately $244,000. Finally, Fifth Third Bancorp lifted its position in Royal Bank of Canada by 46.7% in the fourth quarter. Fifth Third Bancorp now owns 4,712 shares of the financial services provider’s stock worth $568,000 after purchasing an additional 1,500 shares during the period. 45.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RY. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. BMO Capital Markets lowered their target price on 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. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. Finally, TD Securities cut shares of 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 given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Up 0.0 %

Shares of Royal Bank of Canada stock opened at $122.61 on Tuesday. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. The firm has a market capitalization of $173.42 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.81 and a beta of 0.87. 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 stock’s fifty day moving average is $122.47 and its 200-day moving average is $119.90.

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 paid a dividend of $1.0522 per share. The ex-dividend date of this dividend is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a yield of 3.43%. Royal Bank of Canada’s dividend payout ratio is currently 50.85%.

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.