Legacy Financial Advisors Inc. Has $321,000 Stock Position in Royal Bank of Canada (NYSE:RY)

Legacy Financial Advisors Inc. grew its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,176 shares of the financial services provider’s stock after buying an additional 315 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Royal Bank of Canada were worth $321,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Royal Bank of Canada during the third quarter worth approximately $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Royal Bank of Canada in the third quarter valued at approximately $34,000. Cullen Frost Bankers Inc. acquired a new stake in Royal Bank of Canada in the third quarter valued at approximately $44,000. First Horizon Advisors Inc. lifted its stake in Royal Bank of Canada by 64.7% in the fourth quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 185 shares during the last quarter. Finally, Addison Advisors LLC raised its position in shares of Royal Bank of Canada by 131.0% in the fourth quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 300 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock traded up $1.95 on Friday, hitting $101.17. The company’s stock had a trading volume of 2,470,596 shares, compared to its average volume of 1,154,479. The firm has a market cap of $143.13 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 1.74 and a beta of 0.86. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $99.16 and a 200-day moving average price of $95.21. Royal Bank of Canada has a one year low of $77.90 and a one year high of $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.05. The firm had revenue of $9.98 billion for the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. On average, equities analysts anticipate that Royal Bank of Canada will post 8.45 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be issued a $1.0207 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date is Wednesday, April 24th. This represents a $4.08 annualized dividend and a dividend yield of 4.04%. Royal Bank of Canada’s dividend payout ratio is presently 25.31%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $140.00 to $150.00 in a report on Friday, April 5th. Jefferies Financial Group began coverage on shares of Royal Bank of Canada in a research report on Thursday, February 22nd. They issued a “hold” rating on the stock. Finally, Barclays began coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $137.67.

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.