Guardian Partners Inc. Invests $60.96 Million in Royal Bank of Canada (NYSE:RY)

Guardian Partners Inc. acquired a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 500,978 shares of the financial services provider’s stock, valued at approximately $60,962,000. Royal Bank of Canada makes up 6.2% of Guardian Partners Inc.’s investment portfolio, making the stock its largest position.

Several other hedge funds have also recently bought and sold shares of RY. Dunhill Financial LLC purchased a new position in Royal Bank of Canada in the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada in the 3rd quarter valued at approximately $26,000. Roxbury Financial LLC purchased a new position in Royal Bank of Canada in the 4th quarter valued at approximately $29,000. Kieckhefer Group LLC acquired a new stake in Royal Bank of Canada during the 4th quarter valued at $36,000. Finally, Crews Bank & Trust acquired a new stake in Royal Bank of Canada during the 4th quarter valued at $36,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

RY stock opened at $113.71 on Friday. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05. The stock’s fifty day simple moving average is $117.86 and its 200-day simple moving average is $121.28. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $160.52 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed 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. This represents a $4.10 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 45.96%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. 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 target price 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average price target 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.