Jackson Grant Investment Advisers Inc. Takes Position in Royal Bank of Canada (NYSE:RY)

Jackson Grant Investment Advisers Inc. acquired a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 297 shares of the financial services provider’s stock, valued at approximately $36,000.

A number of other large investors have also recently bought and sold shares of RY. Addison Advisors LLC raised its position in shares of Royal Bank of Canada by 9.5% during the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 82 shares during the period. Financial Management Professionals Inc. increased its position in Royal Bank of Canada by 26.8% in the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock worth $51,000 after buying an additional 90 shares during the period. Drive Wealth Management LLC lifted its stake in Royal Bank of Canada by 3.4% in the third quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after buying an additional 92 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Royal Bank of Canada by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 94 shares during the period. Finally, Private Advisor Group LLC grew its position in shares of Royal Bank of Canada by 1.6% during the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Finally, BMO Capital Markets lowered their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Up 0.3 %

Shares of NYSE:RY opened at $119.07 on Thursday. The company has a 50 day moving average of $122.16 and a 200-day moving average of $120.41. 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 market cap of $168.41 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.82 and a beta of 0.87. Royal Bank of Canada has a twelve month low of $93.97 and a twelve month high of $128.05.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a $1.0522 dividend. This represents a $4.21 dividend on an annualized basis and a yield of 3.53%. 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 is 49.76%.

About Royal Bank of Canada

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.