Callan Family Office LLC Acquires New Position in Royal Bank of Canada (NYSE:RY)

Callan Family Office LLC acquired a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, HoldingsChannel reports. The firm acquired 2,997 shares of the financial services provider’s stock, valued at approximately $361,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RY. Charles Schwab Investment Management Inc. lifted its holdings in shares of Royal Bank of Canada by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after buying an additional 64,450 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Royal Bank of Canada by 6.3% during the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after acquiring an additional 4,980 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Royal Bank of Canada by 0.9% in the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after acquiring an additional 124,348 shares during the last quarter. Algert Global LLC bought a new stake in Royal Bank of Canada in the third quarter worth approximately $706,000. Finally, Bridgewater Associates LP increased its stake in shares of Royal Bank of Canada by 150.7% during the 3rd quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock worth $9,249,000 after purchasing an additional 44,494 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, BMO Capital Markets lowered their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Down 1.8 %

Royal Bank of Canada stock opened at $113.05 on Tuesday. The business’s 50-day simple moving average is $119.40 and its 200-day simple moving average is $121.71. Royal Bank of Canada has a 52 week low of $95.84 and a 52 week high of $128.05. The firm has a market capitalization of $159.89 billion, a PE ratio of 13.69, a PEG ratio of 1.80 and a beta of 0.88. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.63%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

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.