Sanctuary Advisors LLC Buys 589 Shares of Royal Bank of Canada (NYSE:RY)

Sanctuary Advisors LLC boosted its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.8% in the third quarter, Holdings Channel.com reports. The firm owned 16,287 shares of the financial services provider’s stock after acquiring an additional 589 shares during the period. Sanctuary Advisors LLC’s holdings in Royal Bank of Canada were worth $2,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RY. National Bank of Canada FI boosted its position in shares of Royal Bank of Canada by 16.7% during the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $2,141,681,000 after buying an additional 2,901,033 shares during the period. FMR LLC lifted its stake in Royal Bank of Canada by 75.8% in the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after acquiring an additional 7,702,585 shares in the last quarter. CIBC Asset Management Inc boosted its position 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 worth $1,706,833,000 after acquiring an additional 124,348 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Royal Bank of Canada by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock worth $1,289,274,000 after acquiring an additional 256,023 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Royal Bank of Canada by 1.8% in the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after purchasing an additional 190,341 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

NYSE RY opened at $119.84 on Thursday. The firm has a market capitalization of $169.41 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. 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 firm’s fifty day moving average price is $124.10 and its two-hundred day moving average price is $117.14. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a $1.0522 dividend. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.51%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio is presently 52.91%.

Analyst Ratings Changes

RY has been the subject of several recent research reports. BMO Capital Markets reduced their target price on shares of 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. 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. Finally, TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.