KMG Fiduciary Partners LLC Acquires 1,737 Shares of Royal Bank of Canada (NYSE:RY)

KMG Fiduciary Partners LLC boosted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 11.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,576 shares of the financial services provider’s stock after acquiring an additional 1,737 shares during the period. KMG Fiduciary Partners LLC’s holdings in Royal Bank of Canada were worth $2,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Royal Bank of Canada during the 3rd quarter worth about $25,000. Dunhill Financial LLC bought a new position in Royal Bank of Canada during the 3rd quarter worth about $25,000. Larson Financial Group LLC bought a new position in Royal Bank of Canada during the 3rd quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after buying an additional 118 shares in the last quarter. Finally, Grove Bank & Trust bought a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at about $28,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Stock Up 0.2 %

RY stock opened at $119.97 on Friday. The firm has a 50 day moving average of $122.75 and a 200 day moving average of $119.21. The stock has a market capitalization of $169.60 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. 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 $93.97 and a 52 week high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently declared 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 is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a yield of 3.51%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.85%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. BMO Capital Markets lowered their price target on shares of 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. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.