Old North State Trust LLC Acquires 432 Shares of Royal Bank of Canada (NYSE:RY)

Old North State Trust LLC raised its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,068 shares of the financial services provider’s stock after acquiring an additional 432 shares during the quarter. Old North State Trust LLC’s holdings in Royal Bank of Canada were worth $1,006,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RY. SG Americas Securities LLC bought a new position in shares of Royal Bank of Canada during the 2nd quarter worth approximately $198,000. Envestnet Portfolio Solutions Inc. grew its stake in Royal Bank of Canada by 12.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,067 shares of the financial services provider’s stock worth $326,000 after buying an additional 338 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in shares of Royal Bank of Canada during the second quarter valued at about $214,000. Blue Trust Inc. raised its position in shares of Royal Bank of Canada by 0.8% in the 2nd quarter. Blue Trust Inc. now owns 15,639 shares of the financial services provider’s stock valued at $1,578,000 after purchasing an additional 124 shares during the last quarter. Finally, Shilanski & Associates Inc. boosted its stake in Royal Bank of Canada by 0.7% in the 2nd quarter. Shilanski & Associates Inc. now owns 32,753 shares of the financial services provider’s stock worth $3,484,000 after purchasing an additional 231 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on RY. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. BMO Capital Markets reduced 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. Finally, Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Price Performance

NYSE:RY opened at $124.70 on Friday. The firm’s fifty day moving average is $124.01 and its two-hundred day moving average is $116.59. The firm has a market cap of $176.28 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.88 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a one year low of $91.99 and a one year high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a yield of 3.38%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.85%.

About Royal Bank of Canada

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.