Tandem Investment Advisors Inc. Grows Stock Holdings in Royal Bank of Canada (NYSE:RY)

Tandem Investment Advisors Inc. grew its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,051 shares of the financial services provider’s stock after buying an additional 151 shares during the period. Tandem Investment Advisors Inc.’s holdings in Royal Bank of Canada were worth $850,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sunpointe LLC boosted its stake in Royal Bank of Canada by 9.3% in the fourth quarter. Sunpointe LLC now owns 1,936 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 164 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of Royal Bank of Canada by 12.6% during the 4th quarter. Ieq Capital LLC now owns 3,218 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 359 shares during the last quarter. CogentBlue Wealth Advisors LLC acquired a new stake in shares of Royal Bank of Canada in the 4th quarter worth $201,000. Alberta Investment Management Corp grew its stake in Royal Bank of Canada by 0.4% during the 4th quarter. Alberta Investment Management Corp now owns 3,583,817 shares of the financial services provider’s stock worth $431,892,000 after buying an additional 15,300 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in Royal Bank of Canada by 6.6% during the 4th quarter. Global Retirement Partners LLC now owns 12,251 shares of the financial services provider’s stock valued at $1,476,000 after buying an additional 755 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on RY shares. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. BMO Capital Markets decreased 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 report on Thursday, December 5th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Trading Down 0.9 %

Royal Bank of Canada stock opened at $119.51 on Friday. The stock has a 50-day moving average price of $120.61 and a 200 day moving average price of $121.01. The company has a market capitalization of $169.03 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 1.81 and a beta of 0.87. Royal Bank of Canada has a 52 week low of $95.84 and a 52 week high of $128.05. 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 firm also recently disclosed 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 represents a $4.21 annualized dividend and a yield of 3.52%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s payout ratio is presently 49.76%.

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.