Guardian Partners Inc. Buys New Holdings in Royal Bank of Canada (NYSE:RY)

Guardian Partners Inc. bought a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 500,978 shares of the financial services provider’s stock, valued at approximately $60,962,000. Royal Bank of Canada comprises about 6.2% of Guardian Partners Inc.’s portfolio, making the stock its biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC acquired a new position in Royal Bank of Canada in the third quarter valued at $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada in the third quarter valued at about $26,000. Roxbury Financial LLC purchased a new position in Royal Bank of Canada in the fourth quarter valued at about $29,000. Kieckhefer Group LLC purchased a new position in Royal Bank of Canada in the fourth quarter valued at about $36,000. Finally, Crews Bank & Trust purchased a new position in Royal Bank of Canada in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on RY shares. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. BMO Capital Markets cut 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 report on Thursday, December 5th. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Down 0.1 %

Shares of NYSE RY opened at $113.71 on Friday. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05. The firm has a market cap of $160.52 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50-day simple moving average is $117.86 and its 200-day simple moving average is $121.28.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.96%.

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.