Newbridge Financial Services Group Inc. Takes Position in Royal Bank of Canada (NYSE:RY)

Newbridge Financial Services Group Inc. acquired a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 580 shares of the financial services provider’s stock, valued at approximately $70,000.

Several other large investors have also bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in Royal Bank of Canada in the second quarter valued at approximately $453,000. Muirfield Wealth Advisors LLC lifted its stake in shares of Royal Bank of Canada by 0.8% in the 3rd quarter. Muirfield Wealth Advisors LLC now owns 16,563 shares of the financial services provider’s stock valued at $2,066,000 after acquiring an additional 126 shares during the last quarter. Grove Bank & Trust acquired a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at $28,000. Sivia Capital Partners LLC grew its position in Royal Bank of Canada by 8.4% during the 3rd quarter. Sivia Capital Partners LLC now owns 3,190 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 247 shares during the last quarter. Finally, Creative Planning increased its holdings in Royal Bank of Canada by 6.4% in the 3rd quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock worth $26,369,000 after purchasing an additional 12,693 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Royal Bank of Canada Stock Performance

NYSE:RY opened at $117.94 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a fifty-two week low of $93.97 and a fifty-two week high of $128.05. The company has a 50 day simple moving average of $121.79 and a two-hundred day simple moving average of $120.59. The company has a market capitalization of $166.81 billion, a PE ratio of 14.28, a P/E/G ratio of 1.78 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. Stockholders 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 is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a dividend yield of 3.57%. Royal Bank of Canada’s dividend payout ratio is 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.