Park Avenue Securities LLC Grows Position in Royal Bank of Canada (NYSE:RY)

Park Avenue Securities LLC raised its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 25.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,762 shares of the financial services provider’s stock after acquiring an additional 3,451 shares during the period. Park Avenue Securities LLC’s holdings in Royal Bank of Canada were worth $2,020,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Kathmere Capital Management LLC lifted its stake in Royal Bank of Canada by 4.5% during the 4th quarter. Kathmere Capital Management LLC now owns 4,475 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 191 shares during the period. Tuttle Capital Management LLC lifted its stake in shares of Royal Bank of Canada by 34.7% in the 4th quarter. Tuttle Capital Management LLC now owns 3,415 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 880 shares during the period. JTC Employer Solutions Trustee Ltd lifted its stake in shares of Royal Bank of Canada by 355.9% in the 4th quarter. JTC Employer Solutions Trustee Ltd now owns 1,705 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 1,331 shares during the period. Kieckhefer Group LLC acquired a new position in shares of Royal Bank of Canada in the 4th quarter valued at $36,000. Finally, Aprio Wealth Management LLC lifted its stake in shares of Royal Bank of Canada by 10.9% in the 4th quarter. Aprio Wealth Management LLC now owns 9,345 shares of the financial services provider’s stock valued at $1,126,000 after purchasing an additional 915 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. 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 decreased 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 research note on Thursday, December 5th. Finally, TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $120.46 on Friday. The firm has a market cap of $170.29 billion, a PE ratio of 14.58, a PEG ratio of 1.77 and a beta of 0.87. The firm has a fifty day moving average of $122.59 and a 200 day moving average of $119.31. 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 one year low of $93.97 and a one year high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a $1.0522 dividend. This represents a $4.21 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend 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 payout ratio is presently 50.85%.

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.