Kieckhefer Group LLC Buys Shares of 300 Royal Bank of Canada (NYSE:RY)

Kieckhefer Group LLC purchased a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 300 shares of the financial services provider’s stock, valued at approximately $36,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RY. Private Advisor Group LLC increased its position in shares of Royal Bank of Canada by 1.8% in the 2nd quarter. Private Advisor Group LLC now owns 6,065 shares of the financial services provider’s stock valued at $645,000 after acquiring an additional 109 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Royal Bank of Canada in the second quarter valued at about $33,000. Choreo LLC acquired a new stake in shares of Royal Bank of Canada during the second quarter worth about $208,000. Daiwa Securities Group Inc. boosted its position in Royal Bank of Canada by 57.1% in the second quarter. Daiwa Securities Group Inc. now owns 4,950 shares of the financial services provider’s stock valued at $527,000 after buying an additional 1,800 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in Royal Bank of Canada by 6.0% in the 2nd quarter. Parallel Advisors LLC now owns 5,785 shares of the financial services provider’s stock worth $615,000 after buying an additional 328 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded down $0.03 during trading on Monday, reaching $118.39. The company had a trading volume of 164,108 shares, compared to its average volume of 657,782. 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 firm’s 50-day simple moving average is $122.98 and its 200 day simple moving average is $119.03. The firm has a market capitalization of $167.36 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87. Royal Bank of Canada has a 1-year low of $93.97 and a 1-year high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be paid 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 3.56%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 52.91%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RY shares. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets lowered their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average target price of $156.50.

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.