Global Retirement Partners LLC Increases Stake in Royal Bank of Canada (NYSE:RY)

Global Retirement Partners LLC increased its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,251 shares of the financial services provider’s stock after purchasing an additional 755 shares during the quarter. Global Retirement Partners LLC’s holdings in Royal Bank of Canada were worth $1,476,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in shares of Royal Bank of Canada by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 4,980 shares during the last quarter. CIBC Asset Management Inc boosted its position in Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after buying an additional 124,348 shares during the period. Algert Global LLC bought a new stake in Royal Bank of Canada in the 3rd quarter worth $706,000. Bridgewater Associates LP increased its position in shares of Royal Bank of Canada by 150.7% in the third quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after acquiring an additional 44,494 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Royal Bank of Canada by 9.3% during the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after acquiring an additional 541,760 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at $119.51 on Friday. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The stock’s 50 day simple moving average is $120.61 and its two-hundred day simple moving average is $121.01. 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 stock has a market cap of $169.03 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.81 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be paid a dividend of $1.0522 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 3.52%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.76%.

Analyst Upgrades and Downgrades

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

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.