Sachetta LLC Acquires Shares of 390 Royal Bank of Canada (NYSE:RY)

Sachetta LLC bought a new position in Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 390 shares of the financial services provider’s stock, valued at approximately $47,000.

A number of other institutional investors have also modified their holdings of RY. Addison Advisors LLC increased its stake in Royal Bank of Canada by 9.5% during the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 82 shares during the last quarter. Financial Management Professionals Inc. grew its position in shares of Royal Bank of Canada by 26.8% during the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock valued at $51,000 after buying an additional 90 shares during the last quarter. Drive Wealth Management LLC raised its stake in Royal Bank of Canada by 3.4% during the third quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 92 shares during the period. Ballentine Partners LLC lifted its holdings in Royal Bank of Canada by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 94 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in Royal Bank of Canada by 1.6% in the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after acquiring an additional 95 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 0.4 %

NYSE:RY opened at $122.62 on Friday. The stock has a market cap of $173.43 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 1.81 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05. The business has a fifty day moving average of $122.44 and a 200-day moving average of $119.67.

Royal Bank of Canada Increases Dividend

The business 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. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.43%. This is an increase 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 payout ratio is 50.85%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RY. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. BMO Capital Markets cut their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $156.50.

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.