Royal Bank of Canada (NYSE:RY) Stake Raised by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. increased its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 21.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,017 shares of the financial services provider’s stock after buying an additional 75,018 shares during the quarter. Royal Bank of Canada comprises 0.6% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 29th largest holding. Montrusco Bolton Investments Inc.’s holdings in Royal Bank of Canada were worth $52,184,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new stake in shares of Royal Bank of Canada in the 2nd quarter worth approximately $453,000. Creative Planning lifted its position in shares of Royal Bank of Canada by 8.5% during the 2nd quarter. Creative Planning now owns 198,718 shares of the financial services provider’s stock valued at $21,140,000 after acquiring an additional 15,554 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Royal Bank of Canada by 1.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 26,466 shares of the financial services provider’s stock valued at $2,815,000 after acquiring an additional 493 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Royal Bank of Canada by 27.9% during the 2nd quarter. Cetera Investment Advisers now owns 32,057 shares of the financial services provider’s stock worth $3,410,000 after acquiring an additional 7,000 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Royal Bank of Canada in the 2nd quarter worth $1,541,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Trading Up 0.2 %

Shares of NYSE RY opened at $122.92 on Wednesday. The firm has a market capitalization of $173.84 billion, a PE ratio of 14.88, a PEG ratio of 1.81 and a beta of 0.87. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $122.47 and a two-hundred day moving average price of $120.07.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a dividend of $1.0522 per share. The ex-dividend date of this dividend is Monday, January 27th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a yield of 3.42%. Royal Bank of Canada’s payout ratio is presently 50.85%.

Wall Street Analysts Forecast Growth

RY has been the subject of several analyst reports. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets reduced their price target on shares of 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.