Royal Bank of Canada (NYSE:RY) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC lifted its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 485.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,206 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during the quarter. Larson Financial Group LLC’s holdings in Royal Bank of Canada were worth $145,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Addison Advisors LLC increased its stake in shares of Royal Bank of Canada by 9.5% in the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 82 shares in the last quarter. Financial Management Professionals Inc. increased its stake in shares of Royal Bank of Canada by 26.8% in the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 90 shares in the last quarter. Drive Wealth Management LLC increased its stake in shares of Royal Bank of Canada by 3.4% in the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 92 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of Royal Bank of Canada by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 94 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its stake in shares of 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 purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

NYSE:RY opened at $110.33 on Wednesday. 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 50 day moving average of $119.19 and a two-hundred day moving average of $121.67. The firm has a market cap of $156.05 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.72%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RY. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. BMO Capital Markets cut their price objective 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. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.