MassMutual Private Wealth & Trust FSB Acquires 192 Shares of Royal Bank of Canada (NYSE:RY)

MassMutual Private Wealth & Trust FSB increased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 17.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,321 shares of the financial services provider’s stock after purchasing an additional 192 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Royal Bank of Canada were worth $159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ensign Peak Advisors Inc increased its holdings in Royal Bank of Canada by 6.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 92,481 shares of the financial services provider’s stock worth $10,191,000 after purchasing an additional 6,000 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Royal Bank of Canada in the second quarter valued at about $220,000. EverSource Wealth Advisors LLC increased its stake in shares of Royal Bank of Canada by 23.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the financial services provider’s stock valued at $150,000 after buying an additional 253 shares during the period. Evergreen Capital Management LLC increased its stake in shares of Royal Bank of Canada by 2.1% in the second quarter. Evergreen Capital Management LLC now owns 8,981 shares of the financial services provider’s stock valued at $955,000 after buying an additional 188 shares during the period. Finally, AQR Capital Management LLC acquired a new stake in shares of Royal Bank of Canada in the second quarter valued at about $453,000. 45.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RY shares. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets decreased their price target on 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 raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Down 1.0 %

NYSE RY opened at $121.03 on Thursday. The business has a 50 day simple moving average of $122.49 and a 200 day simple moving average of $119.65. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05. The stock has a market capitalization of $171.17 billion, a P/E ratio of 14.65, a P/E/G ratio of 1.80 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.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a $1.0522 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a yield of 3.48%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio is presently 49.76%.

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.