Sara Bay Financial Buys New Shares in Royal Bank of Canada (NYSE:RY)
Sara Bay Financial bought a new stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,484 shares of the financial services provider's stock, valued at approximately $661,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Sanibel Captiva Trust Company Inc. grew its stake in shares of Royal Bank of Canada by 19.0% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 2,666 shares of the financial services provider's stock valued at $321,000 after buying an additional 425 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of Royal Bank of Canada by 8.9% during the fourth quarter. Merit Financial Group LLC now owns 8,645 shares of the financial services provider's stock valued at $1,042,000 after buying an additional 705 shares during the last quarter. Avanza Fonder AB bought a new position in shares of Royal Bank of Canada during the fourth quarter valued at about $11,170,000. KMG Fiduciary Partners LLC grew its stake in shares of Royal Bank of Canada by 11.0% during the fourth quarter. KMG Fiduciary Partners LLC now owns 17,576 shares of the financial services provider's stock valued at $2,118,000 after buying an additional 1,737 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in shares of Royal Bank of Canada by 9.3% during the fourth quarter. Ritholtz Wealth Management now owns 39,925 shares of the financial services provider's stock valued at $4,811,000 after buying an additional 3,396 shares during the last quarter. Institutional investors own 45.31% of the company's stock.
RY has been the topic of a number of recent research reports. BMO Capital Markets reduced their price objective 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. Barclays upgraded shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a report on Thursday, November 21st. TD Securities lowered shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Finally, StockNews.com lowered shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $156.50.
Read Our Latest Report on Royal Bank of Canada
RY traded up $0.38 on Friday, hitting $120.46. The company had a trading volume of 1,588,793 shares, compared to its average volume of 675,270. 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 52-week low of $93.97 and a 52-week high of $128.05. The stock has a fifty day simple moving average of $122.66 and a 200-day simple moving average of $119.21. The firm has a market capitalization of $170.29 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.77 and a beta of 0.87.
The firm 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 dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a dividend yield of 3.49%. This is a positive change 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 (DPR) is presently 50.85%.
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.
Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY.
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