Janney Montgomery Scott LLC raised its position in shares of Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,407 shares of the financial services provider’s stock after buying an additional 2,487 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Royal Bank of Canada were worth $6,150,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Pembroke Management LTD grew its holdings in Royal Bank of Canada by 21.6% during the 4th quarter. Pembroke Management LTD now owns 5,625 shares of the financial services provider’s stock valued at $716,000 after buying an additional 1,001 shares in the last quarter. Wambolt & Associates LLC boosted its holdings in Royal Bank of Canada by 2.1% during the 4th quarter. Wambolt & Associates LLC now owns 23,281 shares of the financial services provider’s stock valued at $2,189,000 after acquiring an additional 469 shares during the period. AE Wealth Management LLC boosted its holdings in Royal Bank of Canada by 4.2% during the 4th quarter. AE Wealth Management LLC now owns 2,640 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 107 shares during the period. Summit Global Investments boosted its holdings in Royal Bank of Canada by 0.5% during the 4th quarter. Summit Global Investments now owns 50,506 shares of the financial services provider’s stock valued at $4,749,000 after acquiring an additional 255 shares during the period. Finally, Shilanski & Associates Inc. purchased a new position in Royal Bank of Canada during the 4th quarter valued at $2,852,000. Hedge funds and other institutional investors own 41.19% of the company’s stock.
Royal Bank of Canada Trading Down 0.1 %
RY opened at $100.00 on Friday. The firm has a market cap of $139.06 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.76 and a beta of 0.82. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12 month low of $83.63 and a 12 month high of $112.67. The stock has a fifty day moving average price of $98.33 and a 200-day moving average price of $96.95.
Royal Bank of Canada Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Tuesday, April 25th will be paid a dividend of $0.992 per share. This represents a $3.97 annualized dividend and a yield of 3.97%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.98. The ex-dividend date is Monday, April 24th. Royal Bank of Canada’s payout ratio is 48.32%.
Analysts Set New Price Targets
A number of research firms recently issued reports on RY. Desjardins boosted their price objective on Royal Bank of Canada from C$145.00 to C$147.00 in a report on Tuesday, February 7th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus target price of $138.33.
Royal Bank of Canada Profile
Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support. The Personal and Commercial Banking segment deals with a broad suite of financial products and services in Canada.
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