Riversedge Advisors LLC Buys New Position in Royal Bank of Canada (NYSE:RY)

Riversedge Advisors LLC bought a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,848 shares of the financial services provider’s stock, valued at approximately $223,000.

Other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Royal Bank of Canada during the third quarter valued at about $25,000. Dunhill Financial LLC acquired a new position in Royal Bank of Canada in the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new position in Royal Bank of Canada in the 3rd quarter valued at approximately $26,000. Grove Bank & Trust bought a new stake in shares of Royal Bank of Canada in the 3rd quarter worth approximately $28,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Royal Bank of Canada by 110.3% during the 3rd 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. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Stock Up 0.3 %

Shares of NYSE RY opened at $120.46 on Friday. Royal Bank of Canada has a 52-week low of $93.97 and a 52-week high of $128.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The business has a fifty day moving average of $122.59 and a two-hundred day moving average of $119.31. The stock has a market cap of $170.29 billion, a PE ratio of 14.58, a PEG ratio of 1.77 and a beta of 0.87.

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 given a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This is a positive change 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 3.49%. Royal Bank of Canada’s payout ratio is 50.85%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RY shares. BMO Capital Markets cut their target price 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. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. StockNews.com lowered 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 lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average 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.