Royal Bank of Canada (NYSE:RY) Shares Acquired by Capital Investment Advisory Services LLC

Capital Investment Advisory Services LLC raised its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,528 shares of the financial services provider’s stock after purchasing an additional 255 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Royal Bank of Canada were worth $2,233,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Royal Bank of Canada during the third quarter worth about $25,000. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada during the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC purchased a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 118 shares during the period. Finally, Grove Bank & Trust purchased a new position in shares of Royal Bank of Canada during the third quarter worth $28,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $122.05 on Thursday. The company has a market capitalization of $172.62 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.81 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. The business’s 50 day moving average is $122.47 and its two-hundred day moving average is $120.07. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. The ex-dividend date of this dividend is Monday, January 27th. This is a boost 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 3.45%. Royal Bank of Canada’s dividend payout ratio is currently 50.85%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RY shares. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. BMO Capital Markets dropped 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. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Company 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.