Franklin Street Advisors Inc. NC Has $1.93 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Franklin Street Advisors Inc. NC grew its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 13.0% during the 4th quarter, Holdings Channel reports. The firm owned 16,030 shares of the financial services provider’s stock after buying an additional 1,850 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Royal Bank of Canada were worth $1,932,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in Royal Bank of Canada by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after acquiring an additional 4,980 shares during the last quarter. Legal & General Group Plc lifted its stake in Royal Bank of Canada by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after purchasing an additional 190,341 shares during the last quarter. Creative Planning increased its position in Royal Bank of Canada by 6.4% during the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock worth $26,369,000 after buying an additional 12,693 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Royal Bank of Canada by 0.9% in the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after buying an additional 124,348 shares during the last quarter. Finally, Algert Global LLC bought a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $706,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 2.8 %

Royal Bank of Canada stock traded down $3.37 during mid-day trading on Friday, hitting $118.30. 267,666 shares of the stock were exchanged, compared to its average volume of 660,843. The firm’s fifty day simple moving average is $123.04 and its two-hundred day simple moving average is $118.77. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05. The stock has a market capitalization of $167.24 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.86 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The company also recently announced 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 is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a yield of 3.56%. Royal Bank of Canada’s payout ratio is presently 52.91%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RY shares. 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 cut their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. TD Securities downgraded 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 Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

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.