Sanibel Captiva Trust Company Inc. Increases Stake in Royal Bank of Canada (NYSE:RY)

Sanibel Captiva Trust Company Inc. grew its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 19.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,666 shares of the financial services provider’s stock after purchasing an additional 425 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Royal Bank of Canada were worth $321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in RY. Merit Financial Group LLC boosted its position in Royal Bank of Canada by 8.9% during the 4th quarter. Merit Financial Group LLC now owns 8,645 shares of the financial services provider’s stock valued at $1,042,000 after buying an additional 705 shares during the period. Avanza Fonder AB bought a new position in shares of Royal Bank of Canada during the fourth quarter valued at about $11,170,000. KMG Fiduciary Partners LLC boosted its holdings in shares of Royal Bank of Canada by 11.0% during the fourth quarter. KMG Fiduciary Partners LLC now owns 17,576 shares of the financial services provider’s stock worth $2,118,000 after purchasing an additional 1,737 shares during the period. Ritholtz Wealth Management grew its stake in shares of Royal Bank of Canada by 9.3% in the fourth quarter. Ritholtz Wealth Management now owns 39,925 shares of the financial services provider’s stock worth $4,811,000 after purchasing an additional 3,396 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. increased its holdings in Royal Bank of Canada by 0.8% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 824,183 shares of the financial services provider’s stock valued at $99,364,000 after purchasing an additional 6,345 shares during the period. Institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RY has been the subject of several research analyst reports. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. BMO Capital Markets cut their price target 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. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research 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 report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Trading Up 0.3 %

NYSE RY opened at $120.46 on Monday. The stock’s fifty day moving average price is $122.59 and its 200-day moving average price is $119.40. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a market cap of $170.29 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.77 and a beta of 0.87. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a $1.0522 dividend. This represents a $4.21 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Monday, January 27th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio is currently 50.85%.

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.