Versant Capital Management Inc Acquires 599 Shares of Royal Bank of Canada (NYSE:RY)

Versant Capital Management Inc lifted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2,995.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 619 shares of the financial services provider’s stock after acquiring an additional 599 shares during the period. Versant Capital Management Inc’s holdings in Royal Bank of Canada were worth $75,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Addison Advisors LLC raised its position in Royal Bank of Canada by 9.5% in the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 82 shares in the last quarter. Mount Yale Investment Advisors LLC raised its holdings in shares of Royal Bank of Canada by 1.6% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock worth $619,000 after buying an additional 92 shares in the last quarter. Drive Wealth Management LLC lifted its position in shares of Royal Bank of Canada by 3.4% during the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock worth $349,000 after buying an additional 92 shares during the period. Private Advisor Group LLC boosted its stake in Royal Bank of Canada by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after buying an additional 95 shares in the last quarter. Finally, Leisure Capital Management grew its position in Royal Bank of Canada by 1.1% in the third quarter. Leisure Capital Management now owns 9,366 shares of the financial services provider’s stock valued at $1,168,000 after acquiring an additional 100 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RY shares. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday. BMO Capital Markets reduced their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock 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 report on Thursday, November 21st. Finally, TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Price Performance

Shares of RY stock opened at $120.43 on Friday. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $123.16 and its 200-day moving average is $118.27. The firm has a market capitalization of $170.25 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a $1.0522 dividend. This represents a $4.21 dividend on an annualized basis and a yield of 3.49%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 52.91%.

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.