Guardian Financial Partners LLC Buys New Stake in Royal Bank of Canada (NYSE:RY)

Guardian Financial Partners LLC purchased a new stake in shares of Royal Bank of Canada (NYSE:RYFree Report) (TSE:RY) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 4,008 shares of the financial services provider’s stock, valued at approximately $405,000.

Other large investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new position in Royal Bank of Canada during the third quarter worth about $26,000. Optiver Holding B.V. acquired a new stake in Royal Bank of Canada during the second quarter valued at approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Royal Bank of Canada during the third quarter worth approximately $34,000. Money Concepts Capital Corp acquired a new position in Royal Bank of Canada in the fourth quarter worth approximately $38,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Royal Bank of Canada in the third quarter valued at $44,000. Institutional investors and hedge funds own 42.02% of the company’s stock.

Royal Bank of Canada Stock Down 0.4 %

NYSE:RY traded down $0.38 during trading hours on Friday, hitting $99.38. 672,712 shares of the stock traded hands, compared to its average volume of 1,195,979. The firm has a market cap of $140.02 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.73 and a beta of 0.86. The firm has a 50 day moving average price of $98.33 and a 200 day moving average price of $92.41. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $102.07.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a $1.0207 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 50.13%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RY shares. Jefferies Financial Group initiated coverage on Royal Bank of Canada in a research note on Thursday, February 22nd. They set a “hold” rating for the company. Bank of America upgraded Royal Bank of Canada from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Finally, StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $131.50.

Read Our Latest Analysis on Royal Bank of Canada

Royal Bank of Canada Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank of Canada (NYSE:RYFree Report) (TSE:RY).

Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.