Bleakley Financial Group LLC Purchases 177 Shares of Royal Bank of Canada (NYSE:RY)

Bleakley Financial Group LLC increased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,422 shares of the financial services provider’s stock after purchasing an additional 177 shares during the quarter. Bleakley Financial Group LLC’s holdings in Royal Bank of Canada were worth $774,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in Royal Bank of Canada by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after buying an additional 4,980 shares during the period. Creative Planning raised its stake in Royal Bank of Canada by 6.4% in the 3rd quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock valued at $26,369,000 after acquiring an additional 12,693 shares during the period. CIBC Asset Management Inc lifted its holdings in Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after purchasing an additional 124,348 shares during the last quarter. Algert Global LLC bought a new position in Royal Bank of Canada during the third quarter worth $706,000. Finally, Bridgewater Associates LP increased its holdings in shares of Royal Bank of Canada by 150.7% in the third quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after purchasing an additional 44,494 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RY has been the subject of a number of research reports. 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. BMO Capital Markets reduced their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Finally, TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Performance

Shares of NYSE:RY opened at $119.26 on Monday. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. The company’s 50 day moving average price is $121.79 and its two-hundred day moving average price is $120.52. The firm has a market cap of $168.68 billion, a PE ratio of 14.44, a PEG ratio of 1.78 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be paid a dividend of $1.0522 per share. This represents a $4.21 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Monday, January 27th. 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 (DPR) is 49.76%.

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.