Royal Bank of Canada (NYSE:RY) Shares Bought by Old Port Advisors

Old Port Advisors raised its position in Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) by 3.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,279 shares of the financial services provider’s stock after acquiring an additional 542 shares during the quarter. Old Port Advisors’ holdings in Royal Bank of Canada were worth $1,342,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Enterprise Bank & Trust Co increased its stake in shares of Royal Bank of Canada by 18.8% during the fourth quarter. Enterprise Bank & Trust Co now owns 5,700 shares of the financial services provider’s stock valued at $536,000 after acquiring an additional 900 shares during the period. Cox Capital Mgt LLC increased its stake in shares of Royal Bank of Canada by 2.7% during the fourth quarter. Cox Capital Mgt LLC now owns 24,224 shares of the financial services provider’s stock valued at $2,278,000 after acquiring an additional 641 shares during the period. Richard P Slaughter Associates Inc increased its stake in shares of Royal Bank of Canada by 2.6% during the fourth quarter. Richard P Slaughter Associates Inc now owns 14,191 shares of the financial services provider’s stock valued at $1,334,000 after acquiring an additional 359 shares during the period. Nexus Investment Management ULC increased its stake in shares of Royal Bank of Canada by 0.9% during the fourth quarter. Nexus Investment Management ULC now owns 508,921 shares of the financial services provider’s stock valued at $47,857,000 after acquiring an additional 4,455 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Royal Bank of Canada by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 1,675,277 shares of the financial services provider’s stock valued at $150,843,000 after acquiring an additional 26,537 shares during the period. Institutional investors and hedge funds own 41.19% of the company’s stock.

Royal Bank of Canada Trading Down 2.7 %

Royal Bank of Canada stock opened at $92.65 on Friday. The firm’s 50 day moving average price is $100.55 and its two-hundred day moving average price is $96.53. Royal Bank of Canada has a 1 year low of $83.63 and a 1 year high of $114.55. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $128.40 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Tuesday, April 25th will be paid a $0.992 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.98. The ex-dividend date is Monday, April 24th. This represents a $3.97 dividend on an annualized basis and a yield of 4.28%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 48.32%.

Analysts Set New Price Targets

A number of research analysts recently commented on RY shares. Desjardins raised their price objective on shares of Royal Bank of Canada from C$145.00 to C$147.00 in a research note on Tuesday, February 7th. Bank of America upgraded shares of Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a research note on Monday, December 12th. National Bank Financial decreased their price target on shares of Royal Bank of Canada from C$148.00 to C$147.00 in a research report on Thursday, December 1st. Canaccord Genuity Group lifted their price target on shares of Royal Bank of Canada from C$131.00 to C$136.00 and gave the stock a “buy” rating in a research report on Thursday, December 1st. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $139.50.

Royal Bank of Canada Profile

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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.