LexAurum Advisors LLC Grows Stake in Royal Bank of Canada (NYSE:RY)

LexAurum Advisors LLC increased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 24.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,422 shares of the financial services provider’s stock after purchasing an additional 472 shares during the quarter. LexAurum Advisors LLC’s holdings in Royal Bank of Canada were worth $292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RY. Addison Advisors LLC raised its holdings in Royal Bank of Canada by 9.5% during the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 82 shares in the last quarter. Financial Management Professionals Inc. lifted its position in Royal Bank of Canada by 26.8% in the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 90 shares during the last quarter. Drive Wealth Management LLC boosted its stake in Royal Bank of Canada by 3.4% in the third quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 92 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Royal Bank of Canada by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 94 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Royal Bank of Canada by 1.6% during the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 95 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Royal Bank of Canada Trading Up 0.4 %

NYSE:RY opened at $122.62 on Friday. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock’s 50 day simple moving average is $122.44 and its 200-day simple moving average is $119.67. The firm has a market cap of $173.43 billion, a P/E ratio of 14.85, a PEG ratio of 1.81 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be paid a $1.0522 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a yield of 3.43%. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s payout ratio is currently 50.85%.

Royal Bank of Canada Profile

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.