PFG Investments LLC Takes $215,000 Position in Royal Bank of Canada (NYSE:RY)

PFG Investments LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,785 shares of the financial services provider’s stock, valued at approximately $215,000.

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

Analyst Ratings Changes

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

Royal Bank of Canada Stock Performance

Shares of RY opened at $122.19 on Friday. The stock has a 50 day moving average of $122.38 and a 200 day moving average of $120.19. The company has a market capitalization of $172.82 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.82 and a beta of 0.87. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month 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.

Royal Bank of Canada Increases Dividend

The business also recently declared 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 of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a yield of 3.44%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio is presently 49.76%.

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.