Franklin Street Advisors Inc. NC Acquires 1,850 Shares of Royal Bank of Canada (NYSE:RY)

Franklin Street Advisors Inc. NC raised its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 13.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,030 shares of the financial services provider’s stock after acquiring 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 hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its holdings in Royal Bank of Canada by 75.8% in the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after purchasing an additional 7,702,585 shares during the period. CIBC Asset Management Inc increased its stake in Royal Bank of Canada by 0.9% during 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 acquiring an additional 124,348 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Royal Bank of Canada by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock valued at $1,289,274,000 after acquiring an additional 256,023 shares in the last quarter. Legal & General Group Plc lifted its position in shares of 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 worth $1,118,150,000 after acquiring an additional 190,341 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Royal Bank of Canada by 9.3% during the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after purchasing an additional 541,760 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Down 2.8 %

Shares of NYSE:RY traded down $3.37 during trading on Friday, hitting $118.30. 267,666 shares of the company’s stock traded hands, compared to its average volume of 660,843. The company has a market cap of $167.24 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87. Royal Bank of Canada has a 52 week low of $93.97 and a 52 week high of $128.05. The company has a 50-day moving average price of $123.04 and a 200-day moving average price of $118.77. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

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. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date 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%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RY shares. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. BMO Capital Markets lowered their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.50.

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.