Montrusco Bolton Investments Inc. Acquires 75,018 Shares of Royal Bank of Canada (NYSE:RY)

Montrusco Bolton Investments Inc. raised its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 21.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,017 shares of the financial services provider’s stock after buying an additional 75,018 shares during the period. Royal Bank of Canada accounts for approximately 0.6% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 29th biggest holding. Montrusco Bolton Investments Inc.’s holdings in Royal Bank of Canada were worth $52,184,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. AQR Capital Management LLC acquired a new position in Royal Bank of Canada in the 2nd quarter valued at $453,000. Creative Planning grew its position in shares of Royal Bank of Canada by 8.5% in the second quarter. Creative Planning now owns 198,718 shares of the financial services provider’s stock valued at $21,140,000 after purchasing an additional 15,554 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Royal Bank of Canada by 1.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 26,466 shares of the financial services provider’s stock worth $2,815,000 after purchasing an additional 493 shares during the period. Cetera Investment Advisers lifted its position in shares of Royal Bank of Canada by 27.9% during the 2nd quarter. Cetera Investment Advisers now owns 32,057 shares of the financial services provider’s stock worth $3,410,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Royal Bank of Canada during the 2nd quarter valued at approximately $1,541,000. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Trading Up 0.2 %

Shares of RY stock opened at $122.92 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a fifty day moving average of $122.47 and a 200-day moving average of $120.07. Royal Bank of Canada has a 52-week low of $93.97 and a 52-week high of $128.05. The stock has a market cap of $173.84 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.81 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be paid a dividend of $1.0522 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a yield of 3.42%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.85%.

Analysts Set New Price Targets

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

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.