By otakuyassine3@gmail.com 
Kingsview Wealth Management LLC lifted its holdings in Royal Bank of Canada (NYSE:RY – Free Report) (TSE:RY) by 7.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,685 shares of the financial services provider’s stock after buying an additional 262 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Royal Bank of Canada were worth $444,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. PNC Financial Services Group Inc. grew its position in Royal Bank of Canada by 6.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after purchasing an additional 4,980 shares during the last quarter. Creative Planning lifted its stake in Royal Bank of Canada by 6.4% during the 3rd quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock valued at $26,369,000 after acquiring an additional 12,693 shares during the period. CIBC Asset Management Inc lifted its stake in Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after acquiring an additional 124,348 shares during the period. Algert Global LLC bought a new position in Royal Bank of Canada during the 3rd quarter valued at about $706,000. Finally, Bridgewater Associates LP lifted its stake in Royal Bank of Canada by 150.7% during the 3rd quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after acquiring an additional 44,494 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.
Royal Bank of Canada Price Performance
Royal Bank of Canada stock opened at $119.35 on Friday. Royal Bank of Canada has a 12-month low of $95.19 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. The firm has a 50-day moving average price of $121.38 and a 200-day moving average price of $120.69. The firm has a market capitalization of $168.80 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87.
Royal Bank of Canada Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be paid a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a yield of 3.53%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.76%.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. 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. Finally, BMO Capital Markets lowered their price objective 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.50.
View Our Latest Research Report on RY
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.
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