PFG Investments LLC Makes New $215,000 Investment in Royal Bank of Canada (NYSE:RY)

PFG Investments LLC purchased a new stake in shares of Royal Bank of Canada (NYSE:RYFree Report) (TSE:RY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,785 shares of the financial services provider’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RY. Capital Performance Advisors LLP purchased a new position in shares of Royal Bank of Canada in the third quarter valued at $25,000. Dunhill Financial LLC purchased a new position in Royal Bank of Canada during the 3rd quarter valued at about $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada during the 3rd quarter valued at about $26,000. Grove Bank & Trust bought a new stake in shares of Royal Bank of Canada during the third 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% in the third 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 in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

RY opened at $122.19 on Friday. The stock has a 50-day moving average price of $122.38 and a 200-day moving average price of $120.19. The stock has a market capitalization of $172.82 billion, a P/E 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. 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. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.76%.

Analyst Ratings Changes

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

Check Out Our Latest Research Report on RY

Royal Bank of Canada Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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