PDS Planning Inc Buys 209 Shares of Royal Bank of Canada (NYSE:RY)

PDS Planning Inc increased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,084 shares of the financial services provider’s stock after purchasing an additional 209 shares during the quarter. PDS Planning Inc’s holdings in Royal Bank of Canada were worth $492,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Royal Bank of Canada by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock worth $427,589,000 after purchasing an additional 64,450 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Royal Bank of Canada by 6.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 4,980 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Royal Bank of Canada in the 4th quarter worth approximately $60,034,000. Wealth High Governance Capital Ltda bought a new stake in shares of Royal Bank of Canada in the 4th quarter worth approximately $10,243,000. Finally, Algert Global LLC bought a new stake in shares of Royal Bank of Canada in the 3rd quarter worth approximately $706,000. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the topic of a number of analyst reports. Barclays raised 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 target price 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. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Down 0.2 %

RY opened at $112.45 on Wednesday. The company has a fifty day moving average price of $118.26 and a 200-day moving average price of $121.43. The firm has a market capitalization of $158.74 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. 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 has a one year low of $95.84 and a one year high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.65%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 45.96%.

Royal Bank of Canada 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.