Midwest Professional Planners LTD. Purchases 855 Shares of Royal Bank of Canada (NYSE:RY)

Midwest Professional Planners LTD. boosted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,372 shares of the financial services provider’s stock after purchasing an additional 855 shares during the quarter. Midwest Professional Planners LTD.’s holdings in Royal Bank of Canada were worth $1,129,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dunhill Financial LLC purchased a new stake in shares of Royal Bank of Canada in the third quarter worth $25,000. Larson Financial Group LLC purchased a new stake in shares of Royal Bank of Canada in the third quarter worth $26,000. Roxbury Financial LLC purchased a new stake in shares of Royal Bank of Canada in the fourth quarter worth $29,000. Kieckhefer Group LLC purchased a new stake in shares of Royal Bank of Canada in the fourth quarter worth $36,000. Finally, Crews Bank & Trust purchased a new stake in shares of Royal Bank of Canada in the fourth quarter worth $36,000. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on RY. BMO Capital Markets dropped their price objective on 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. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Finally, TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Down 2.2 %

NYSE RY opened at $108.88 on Friday. The stock’s 50-day moving average price is $118.79 and its 200-day moving average price is $121.51. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 52 week low of $95.84 and a 52 week high of $128.05. The company has a market capitalization of $153.99 billion, a P/E ratio of 13.18, 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 announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.77%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

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.