Advisory Resource Group Buys 257 Shares of Royal Bank of Canada (NYSE:RY)

Advisory Resource Group lifted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,403 shares of the financial services provider’s stock after purchasing an additional 257 shares during the quarter. Advisory Resource Group’s holdings in Royal Bank of Canada were worth $1,013,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Dunhill Financial LLC bought a new stake in Royal Bank of Canada in the third quarter worth $25,000. Larson Financial Group LLC purchased a new stake in Royal Bank of Canada during the third quarter valued at $26,000. Grove Bank & Trust bought a new position in Royal Bank of Canada during the third quarter valued at $28,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after buying an additional 118 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on RY shares. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, BMO Capital Markets dropped 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at $119.26 on Friday. The company has a 50 day moving average price of $121.79 and a 200-day moving average price of $120.45. The company has a market capitalization of $168.68 billion, a PE ratio of 14.44, a P/E/G ratio of 1.78 and a beta of 0.87. Royal Bank of Canada has a fifty-two week low of $93.97 and a fifty-two week high of $128.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86.

Royal Bank of Canada Increases Dividend

The firm 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 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 is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a yield of 3.53%. Royal Bank of Canada’s dividend payout ratio (DPR) 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.