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

Global Retirement Partners LLC increased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,251 shares of the financial services provider’s stock after buying an additional 755 shares during the quarter. Global Retirement Partners LLC’s holdings in Royal Bank of Canada were worth $1,476,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Atlas Legacy Advisors LLC purchased a new position in Royal Bank of Canada in the fourth quarter valued at approximately $423,000. Cardinal Capital Management lifted its position in shares of Royal Bank of Canada by 0.8% during the 4th quarter. Cardinal Capital Management now owns 38,654 shares of the financial services provider’s stock valued at $4,658,000 after buying an additional 303 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Royal Bank of Canada by 2.7% during the 4th quarter. Sanctuary Advisors LLC now owns 16,729 shares of the financial services provider’s stock worth $2,064,000 after acquiring an additional 442 shares during the period. Americana Partners LLC grew its stake in shares of Royal Bank of Canada by 504.1% during the 4th quarter. Americana Partners LLC now owns 178,260 shares of the financial services provider’s stock worth $21,482,000 after acquiring an additional 148,752 shares during the period. Finally, Sierra Ocean LLC bought a new stake in Royal Bank of Canada in the 4th quarter valued at about $98,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $119.51 on Friday. The business has a 50-day simple moving average of $120.61 and a 200 day simple moving average of $121.01. Royal Bank of Canada has a 52 week low of $95.84 and a 52 week high of $128.05. 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. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a $1.0522 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend 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 is presently 49.76%.

Wall Street Analyst Weigh In

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

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.