Royal Bank of Canada (NYSE:RY) Shares Acquired by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. increased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.2% during the 4th quarter, Holdings Channel reports. The fund owned 7,051 shares of the financial services provider’s stock after purchasing an additional 151 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in Royal Bank of Canada were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. boosted its position in 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. Sequoia Financial Advisors LLC boosted its holdings in Royal Bank of Canada by 2.8% during the third quarter. Sequoia Financial Advisors LLC now owns 14,301 shares of the financial services provider’s stock worth $1,784,000 after buying an additional 385 shares in the last quarter. Eastern Bank purchased a new stake in Royal Bank of Canada during the third quarter worth $59,000. Waldron Private Wealth LLC acquired a new stake in Royal Bank of Canada during the third quarter valued at $217,000. Finally, Private Advisor Group LLC increased its holdings in Royal Bank of Canada by 1.6% in the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after buying an additional 95 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Royal Bank of Canada Stock Down 0.9 %

NYSE RY opened at $119.51 on Friday. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05. 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 business has a fifty day moving average price of $120.61 and a 200 day moving average price of $121.01. The company has a market cap of $169.03 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.81 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders 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. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.52%. Royal Bank of Canada’s dividend payout ratio is 49.76%.

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.