KMG Fiduciary Partners LLC Buys 1,737 Shares of Royal Bank of Canada (NYSE:RY)

KMG Fiduciary Partners LLC raised its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,576 shares of the financial services provider’s stock after purchasing an additional 1,737 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Royal Bank of Canada were worth $2,118,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted 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 purchasing an additional 4,980 shares during the last quarter. Legal & General Group Plc lifted its position in Royal Bank of Canada by 1.8% during 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 purchasing an additional 190,341 shares during the last quarter. Creative Planning lifted its position in Royal Bank of Canada by 6.4% during the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock valued at $26,369,000 after purchasing an additional 12,693 shares during the last quarter. CIBC Asset Management Inc lifted its position in 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 valued at $1,706,833,000 after purchasing an additional 124,348 shares during the last quarter. Finally, Algert Global LLC bought a new position in Royal Bank of Canada during the third quarter valued at $706,000. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on RY. BMO Capital Markets lowered their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Up 0.2 %

RY stock opened at $119.97 on Friday. The company has a market capitalization of $169.60 billion, a PE ratio of 14.52, a P/E/G ratio of 1.77 and a beta of 0.87. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05. The firm’s 50-day moving average is $122.75 and its 200 day moving average is $119.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be paid a $1.0522 dividend. This represents a $4.21 annualized dividend and a yield of 3.51%. The ex-dividend date is Monday, January 27th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.85%.

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.