Advisory Resource Group Purchases 257 Shares of Royal Bank of Canada (NYSE:RY)

Advisory Resource Group grew its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,403 shares of the financial services provider’s stock after buying an additional 257 shares during the quarter. Advisory Resource Group’s holdings in Royal Bank of Canada were worth $1,013,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RY. PNC Financial Services Group Inc. increased its stake in shares of Royal Bank of Canada by 6.3% during the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after purchasing an additional 4,980 shares in the last quarter. Creative Planning grew its stake in shares of Royal Bank of Canada by 6.4% in the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock worth $26,369,000 after acquiring an additional 12,693 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Royal Bank of Canada by 0.9% during the third 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 acquiring an additional 124,348 shares in the last quarter. Algert Global LLC purchased a new position in shares of Royal Bank of Canada in the 3rd quarter worth about $706,000. Finally, Bridgewater Associates LP grew its position in Royal Bank of Canada by 150.7% during the 3rd quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after purchasing an additional 44,494 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Trading Down 0.1 %

Shares of NYSE:RY opened at $119.26 on Friday. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. The company has a market cap of $168.68 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87. The stock has a 50 day moving average of $121.79 and a 200 day moving average of $120.45. 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 company also recently disclosed 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. 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 dividend yield of 3.53%. Royal Bank of Canada’s dividend payout ratio is 49.76%.

Wall Street Analyst Weigh In

RY has been the topic of a number of recent analyst reports. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, BMO Capital Markets reduced 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 report on Thursday, December 5th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.