First Command Advisory Services Inc. Purchases New Holdings in Royal Bank of Canada (NYSE:RY)

First Command Advisory Services Inc. purchased a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 460 shares of the financial services provider’s stock, valued at approximately $55,000.

Several other hedge funds have also made changes to their positions in RY. Proficio Capital Partners LLC acquired a new stake in shares of Royal Bank of Canada during the 4th quarter valued at $5,882,000. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Royal Bank of Canada by 0.9% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 307,200 shares of the financial services provider’s stock valued at $37,021,000 after buying an additional 2,600 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Royal Bank of Canada by 6.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,285,856 shares of the financial services provider’s stock valued at $154,958,000 after buying an additional 72,804 shares during the period. IFP Advisors Inc boosted its stake in shares of Royal Bank of Canada by 8.1% during the 4th quarter. IFP Advisors Inc now owns 2,246 shares of the financial services provider’s stock valued at $271,000 after buying an additional 169 shares during the period. Finally, Summerhill Capital Management lnc. boosted its stake in shares of Royal Bank of Canada by 2.8% during the 4th quarter. Summerhill Capital Management lnc. now owns 57,822 shares of the financial services provider’s stock valued at $6,965,000 after buying an additional 1,561 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Down 3.5 %

Royal Bank of Canada stock opened at $115.26 on Friday. The firm has a market cap of $163.02 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 1.80 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The firm has a fifty day moving average price of $120.19 and a two-hundred day moving average price of $121.38.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, January 27th were issued a dividend of $1.0522 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.65%. Royal Bank of Canada’s payout ratio is presently 49.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. BMO Capital Markets decreased their target price 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 lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One equities research 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 MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

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.