Sanctuary Advisors LLC Has $2.04 Million Holdings in Royal Bank of Canada (NYSE:RY)

Sanctuary Advisors LLC increased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,287 shares of the financial services provider’s stock after purchasing an additional 589 shares during the quarter. Sanctuary Advisors LLC’s holdings in Royal Bank of Canada were worth $2,037,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RY. National Bank of Canada FI raised its holdings in Royal Bank of Canada by 16.7% during the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $2,141,681,000 after purchasing an additional 2,901,033 shares during the last quarter. FMR LLC raised its stake in shares of Royal Bank of Canada by 75.8% during the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after buying an additional 7,702,585 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Royal Bank of Canada by 0.9% during the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after buying an additional 124,348 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Royal Bank of Canada by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock valued at $1,289,274,000 after buying an additional 256,023 shares during the period. Finally, Legal & General Group Plc boosted its stake in Royal Bank of Canada by 1.8% in the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after acquiring an additional 190,341 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at $119.84 on Thursday. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $169.41 billion, a PE ratio of 14.51, a PEG ratio of 1.86 and a beta of 0.86. The stock’s fifty day simple moving average is $124.10 and its 200 day simple moving average is $117.14.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is 52.91%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RY shares. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. BMO Capital Markets cut their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has given 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Company 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.