Logan Capital Management Inc. Purchases 1,293 Shares of Royal Bank of Canada (NYSE:RY)

Logan Capital Management Inc. grew its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.1% during the third quarter, Holdings Channel reports. The institutional investor owned 33,003 shares of the financial services provider’s stock after purchasing an additional 1,293 shares during the quarter. Logan Capital Management Inc.’s holdings in Royal Bank of Canada were worth $4,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Addison Advisors LLC grew its stake in Royal Bank of Canada by 9.5% in the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock valued at $118,000 after buying an additional 82 shares in the last quarter. Mount Yale Investment Advisors LLC grew its position in shares of Royal Bank of Canada by 1.6% in the second quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 92 shares in the last quarter. Drive Wealth Management LLC raised its stake in shares of Royal Bank of Canada by 3.4% during the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 92 shares during the period. Private Advisor Group LLC lifted its holdings in Royal Bank of Canada by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 95 shares in the last quarter. Finally, HB Wealth Management LLC boosted its stake in Royal Bank of Canada by 1.9% in the 2nd quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RY shares. BMO Capital Markets lowered their price target 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. 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. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Down 0.1 %

RY opened at $124.52 on Friday. The business’s fifty day simple moving average is $124.06 and its 200 day simple moving average is $116.73. Royal Bank of Canada has a 52 week low of $93.97 and a 52 week high of $128.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a market cap of $176.03 billion, a PE ratio of 15.08, a P/E/G ratio of 1.88 and a beta of 0.86.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be paid a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a yield of 3.38%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio is currently 52.91%.

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.