Principal Securities Inc. Raises Position in Royal Bank of Canada (NYSE:RY)

Principal Securities Inc. grew its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,474 shares of the financial services provider’s stock after acquiring an additional 876 shares during the period. Principal Securities Inc.’s holdings in Royal Bank of Canada were worth $1,142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Royal Bank of Canada in the third quarter valued at about $25,000. Dunhill Financial LLC acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at about $25,000. Larson Financial Group LLC acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares during the period. Finally, Roxbury Financial LLC acquired a new stake in shares of Royal Bank of Canada in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Shares of RY opened at $120.52 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a market cap of $170.45 billion, a P/E ratio of 14.59, a PEG ratio of 1.78 and a beta of 0.87. The company has a 50-day moving average of $120.71 and a two-hundred day moving average of $121.02. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month 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 given a dividend of $1.0522 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a yield of 3.49%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is presently 49.76%.

Analyst Upgrades and Downgrades

RY has been the subject of several recent analyst reports. 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 for the company in a research note on Thursday, December 5th. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. 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. Finally, TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on 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.