Price T Rowe Associates Inc. MD Purchases 90 Shares of Royal Bank of Canada (NYSE:RY)

Price T Rowe Associates Inc. MD raised its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.2% in the 4th quarter, Holdings Channel reports. The firm owned 2,860 shares of the financial services provider’s stock after buying an additional 90 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Royal Bank of Canada were worth $345,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada during the fourth quarter worth $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $28,000. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $36,000. Crews Bank & Trust acquired a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $36,000. Finally, Transce3nd LLC acquired a new stake in Royal Bank of Canada in the 4th quarter worth about $37,000. Institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RY. CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Friday, April 4th. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Finally, Cibc World Mkts upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Up 0.6%

RY opened at $122.57 on Thursday. The firm has a market capitalization of $173.03 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.80 and a beta of 0.89. Royal Bank of Canada has a fifty-two week low of $102.44 and a fifty-two week high of $128.05. 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 company’s 50 day moving average price is $115.45 and its two-hundred day moving average price is $119.35.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.35%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 46.18%.

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.