Murphy & Mullick Capital Management Corp Makes New Investment in Royal Bank of Canada (NYSE:RY)

Murphy & Mullick Capital Management Corp bought a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 413 shares of the financial services provider’s stock, valued at approximately $50,000.

Several other large investors also recently modified their holdings of the stock. Dunhill Financial LLC bought a new position in Royal Bank of Canada in the third quarter valued at approximately $25,000. Larson Financial Group LLC bought a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $26,000. Roxbury Financial LLC acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth $29,000. Kieckhefer Group LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth $36,000. Finally, Crews Bank & Trust acquired a new stake in Royal Bank of Canada in the fourth quarter valued at about $36,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on RY. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Finally, 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 on the stock in a research note on Thursday, December 5th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Down 1.3 %

Royal Bank of Canada stock opened at $114.73 on Friday. The stock has a market cap of $161.96 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50-day simple moving average is $117.59 and its 200 day simple moving average is $121.13. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 45.96%.

About Royal Bank of Canada

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.