Kingswood Wealth Advisors LLC Increases Stock Holdings in Royal Bank of Canada (NYSE:RY)

Kingswood Wealth Advisors LLC lifted its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 78.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,923 shares of the financial services provider’s stock after buying an additional 1,287 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Royal Bank of Canada were worth $352,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RY. Capital Performance Advisors LLP acquired a new position in shares of Royal Bank of Canada during the 3rd quarter valued at $25,000. Dunhill Financial LLC acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at approximately $25,000. Larson Financial Group LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth about $26,000. Grove Bank & Trust acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at about $28,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Royal Bank of Canada by 110.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

NYSE:RY opened at $122.19 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $172.82 billion, a P/E ratio of 14.79, a PEG ratio of 1.82 and a beta of 0.87. The company has a fifty day moving average price of $122.44 and a 200 day moving average price of $120.11. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors 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 an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a yield of 3.44%. Royal Bank of Canada’s dividend payout ratio (DPR) is 49.76%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. BMO Capital Markets lowered their target price on shares of 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 research report on Wednesday, January 1st. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, one has assigned 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, the company has a consensus rating of “Moderate Buy” and an average target price of $156.50.

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.