Old Port Advisors Has $2.15 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Old Port Advisors lowered its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,862 shares of the financial services provider’s stock after selling 210 shares during the period. Old Port Advisors’ holdings in Royal Bank of Canada were worth $2,153,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new position in shares of Royal Bank of Canada during the second quarter valued at about $144,000. Commonwealth Equity Services LLC raised its stake in Royal Bank of Canada by 2.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 105,049 shares of the financial services provider’s stock worth $11,175,000 after buying an additional 2,163 shares during the period. Summit Financial LLC boosted its holdings in Royal Bank of Canada by 8.9% in the second quarter. Summit Financial LLC now owns 3,361 shares of the financial services provider’s stock worth $358,000 after acquiring an additional 276 shares in the last quarter. Natixis Advisors LLC grew its stake in Royal Bank of Canada by 8.8% in the second quarter. Natixis Advisors LLC now owns 117,608 shares of the financial services provider’s stock valued at $12,511,000 after acquiring an additional 9,535 shares during the period. Finally, Magnus Financial Group LLC bought a new stake in shares of Royal Bank of Canada during the second quarter valued at approximately $204,000. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RY has been the subject of a number of recent research reports. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday. BMO Capital Markets decreased their price target 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. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

Shares of NYSE:RY traded down $0.48 during midday trading on Thursday, reaching $120.03. 118,506 shares of the company traded hands, compared to its average volume of 1,066,202. The firm’s fifty day moving average price is $123.28 and its two-hundred day moving average price is $118.14. The firm has a market capitalization of $169.68 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. The company has a quick ratio of 0.86, a current 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.

Royal Bank of Canada Increases Dividend

The company also recently declared 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 is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s payout ratio is 52.91%.

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.