Brighton Jones LLC Buys 575 Shares of Royal Bank of Canada (NYSE:RY)

Brighton Jones LLC raised its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 33.1% in the 4th quarter, HoldingsChannel reports. The firm owned 2,313 shares of the financial services provider’s stock after acquiring an additional 575 shares during the quarter. Brighton Jones LLC’s holdings in Royal Bank of Canada were worth $279,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Addison Advisors LLC raised its position in shares of Royal Bank of Canada by 9.5% during 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 during the period. Financial Management Professionals Inc. increased its stake in Royal Bank of Canada by 26.8% during the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 90 shares in the last quarter. Drive Wealth Management LLC raised its holdings in Royal Bank of Canada by 3.4% during the third 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 last quarter. Ballentine Partners LLC lifted its stake in shares of Royal Bank of Canada by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock valued at $519,000 after buying an additional 94 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Royal Bank of Canada by 1.6% during the third 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 during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RY. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, BMO Capital Markets dropped their price objective 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $122.61 on Tuesday. The company has a market capitalization of $173.42 billion, a PE ratio of 14.84, 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. The stock’s 50 day moving average price is $122.47 and its 200-day moving average price is $119.90. Royal Bank of Canada has a twelve month low of $93.97 and a twelve month high of $128.05.

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 $1.0522 dividend. This represents a $4.21 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Monday, January 27th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio is 50.85%.

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.