Pathway Financial Advisers LLC Raises Stock Holdings in Royal Bank of Canada (NYSE:RY)

Pathway Financial Advisers LLC grew its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,966 shares of the financial services provider’s stock after acquiring an additional 240 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Royal Bank of Canada were worth $960,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in Royal Bank of Canada during the third quarter valued at approximately $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada during the 3rd quarter valued at $25,000. Larson Financial Group LLC purchased a new stake in Royal Bank of Canada during the 3rd quarter valued at $26,000. Grove Bank & Trust bought a new position in shares of Royal Bank of Canada during the 3rd quarter valued at $28,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake 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 buying an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on RY. BMO Capital Markets reduced their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. One equities research analyst has rated the stock with a sell rating, one has issued 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 stock currently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Price Performance

NYSE RY opened at $118.31 on Thursday. 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 has a 12 month low of $93.97 and a 12 month high of $128.05. The stock has a market cap of $167.33 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.78 and a beta of 0.87. The company’s 50 day moving average is $121.38 and its two-hundred day moving average is $120.69.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a dividend yield of 3.56%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.76%.

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.