Larson Financial Group LLC Grows Stake in Royal Bank of Canada (NYSE:RY)

Larson Financial Group LLC grew its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 485.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,206 shares of the financial services provider’s stock after acquiring an additional 1,000 shares during the quarter. Larson Financial Group LLC’s holdings in Royal Bank of Canada were worth $145,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $25,000. Dunhill Financial LLC purchased a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $25,000. Roxbury Financial LLC purchased a new position in shares of Royal Bank of Canada in the 4th quarter valued at $29,000. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Royal Bank of Canada in the 4th quarter valued at $36,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Royal Bank of Canada in the 4th quarter valued at $36,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RY shares. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. BMO Capital Markets lowered 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. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Performance

Shares of RY opened at $110.33 on Wednesday. The stock has a 50-day moving average of $119.19 and a two-hundred day moving average of $121.67. 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 stock has a market cap of $156.05 billion, a P/E ratio of 13.36, a P/E/G ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.72%. Royal Bank of Canada’s dividend payout ratio is currently 45.96%.

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.