Proficio Capital Partners LLC Takes $5.88 Million Position in Royal Bank of Canada (NYSE:RY)

Proficio Capital Partners LLC acquired a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 48,807 shares of the financial services provider’s stock, valued at approximately $5,882,000.

Other institutional investors have also added to or reduced their stakes in the company. Addison Advisors LLC raised its stake in shares of Royal Bank of Canada by 9.5% in the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 82 shares during the period. Financial Management Professionals Inc. raised its position in Royal Bank of Canada by 26.8% in the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock valued at $51,000 after buying an additional 90 shares during the last quarter. Drive Wealth Management LLC lifted its stake in Royal Bank of Canada by 3.4% in the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 92 shares in the last quarter. Ballentine Partners LLC boosted its position in 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 during the last quarter. Finally, Richardson Financial Services Inc. grew its stake 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. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Trading Down 1.1 %

Shares of NYSE:RY opened at $116.87 on Tuesday. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. The business has a 50 day moving average of $120.07 and a 200-day moving average of $121.66. 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 stock has a market cap of $165.30 billion, a PE ratio of 14.15, a P/E/G ratio of 1.80 and a beta of 0.87.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is 45.73%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. 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. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. BMO Capital Markets cut their price target 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. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with 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, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average 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.