580 Shares in Royal Bank of Canada (NYSE:RY) Acquired by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. purchased a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 580 shares of the financial services provider’s stock, valued at approximately $70,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RY. Capital Performance Advisors LLP acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at about $25,000. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada in the third quarter valued at approximately $25,000. Larson Financial Group LLC bought a new stake in shares of Royal Bank of Canada during the third quarter valued at approximately $26,000. Grove Bank & Trust acquired a new position in shares of Royal Bank of Canada during the third quarter worth approximately $28,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 118 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. 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. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, BMO Capital Markets decreased their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $117.94 on Tuesday. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05. The company has a market cap of $166.81 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.78 and a beta of 0.87. The firm has a 50-day moving average of $121.79 and a 200-day moving average of $120.59. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.57%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.76%.

Royal Bank of Canada Company 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.