48,807 Shares in Royal Bank of Canada (NYSE:RY) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 48,807 shares of the financial services provider’s stock, valued at approximately $5,882,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RY. Financial Management Professionals Inc. boosted its position in shares of Royal Bank of Canada by 26.8% during the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 90 shares in the last quarter. Drive Wealth Management LLC boosted its position in shares of Royal Bank of Canada by 3.4% during the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 92 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of Royal Bank of Canada by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 94 shares in the last quarter. Richardson Financial Services Inc. boosted its position in shares of Royal Bank of Canada by 45.7% during the 4th quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 96 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in shares of Royal Bank of Canada by 0.8% in the 4th quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider’s stock valued at $1,502,000 after purchasing an additional 101 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Up 2.5 %

RY opened at $111.52 on Monday. The business has a 50 day moving average price of $118.61 and a two-hundred day moving average price of $121.54. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a market cap of $157.43 billion, a PE ratio of 13.50, a P/E/G ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 52 week low of $95.84 and a 52 week high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.68%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is presently 45.96%.

Analyst Upgrades and Downgrades

RY has been the subject of several research reports. BMO Capital Markets reduced their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 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 raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

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.