Pathway Financial Advisers LLC Buys 240 Shares of Royal Bank of Canada (NYSE:RY)

Pathway Financial Advisers LLC boosted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,966 shares of the financial services provider’s stock after purchasing an additional 240 shares during the period. Pathway Financial Advisers LLC’s holdings in Royal Bank of Canada were worth $960,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new position in shares of Royal Bank of Canada in the second quarter worth $453,000. Grove Bank & Trust purchased a new position in shares of Royal Bank of Canada in the third quarter valued at about $28,000. Creative Planning increased its position in shares of Royal Bank of Canada by 6.4% in the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock valued at $26,369,000 after acquiring an additional 12,693 shares during the period. Sunpointe LLC bought a new position in shares of Royal Bank of Canada during the third quarter valued at about $221,000. Finally, Sumitomo Life Insurance Co. boosted its holdings in shares of Royal Bank of Canada by 2.4% during the third quarter. Sumitomo Life Insurance Co. now owns 17,056 shares of the financial services provider’s stock worth $2,127,000 after purchasing an additional 393 shares during the period. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.1 %

Shares of NYSE RY opened at $118.31 on Thursday. The stock has a market cap of $167.33 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50-day moving average of $121.38 and a 200 day moving average of $120.69. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently announced 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 represents a $4.21 annualized dividend and a yield of 3.56%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.76%.

Wall Street Analysts Forecast Growth

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

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.