Ritholtz Wealth Management Acquires 3,396 Shares of Royal Bank of Canada (NYSE:RY)

Ritholtz Wealth Management lifted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,925 shares of the financial services provider’s stock after acquiring an additional 3,396 shares during the quarter. Ritholtz Wealth Management’s holdings in Royal Bank of Canada were worth $4,811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RY. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada during the third quarter valued at approximately $25,000. Dunhill Financial LLC bought a new position in shares of Royal Bank of Canada during the third quarter valued at approximately $25,000. Larson Financial Group LLC bought a new position in shares of Royal Bank of Canada during the third quarter valued at approximately $26,000. Grove Bank & Trust bought a new position in Royal Bank of Canada in the third quarter worth $28,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in 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 purchasing an additional 118 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RY shares. BMO Capital Markets decreased their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given 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 Trading Up 0.2 %

Shares of NYSE RY opened at $119.97 on Friday. 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 business has a fifty day simple moving average of $122.75 and a two-hundred day simple moving average of $119.21. The firm has a market cap of $169.60 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. Royal Bank of Canada has a twelve month low of $93.97 and a twelve month high of $128.05.

Royal Bank of Canada Increases Dividend

The company also recently declared 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. This represents a $4.21 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend 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 payout ratio is presently 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.