Atlas Legacy Advisors LLC Buys New Shares in Royal Bank of Canada (NYSE:RY)

Atlas Legacy Advisors LLC bought a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, HoldingsChannel reports. The firm bought 3,513 shares of the financial services provider’s stock, valued at approximately $423,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC lifted its stake in Royal Bank of Canada by 75.8% during the third 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 last quarter. CIBC Asset Management Inc lifted its position in shares of Royal Bank of Canada by 0.9% in the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Royal Bank of Canada by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after acquiring an additional 541,760 shares in the last quarter. Fiera Capital Corp lifted its position in shares of Royal Bank of Canada by 3.7% in the 3rd quarter. Fiera Capital Corp now owns 4,759,385 shares of the financial services provider’s stock valued at $594,791,000 after acquiring an additional 171,125 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Royal Bank of Canada by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,483,591 shares of the financial services provider’s stock valued at $435,253,000 after acquiring an additional 122,311 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. 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. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. 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. Finally, Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. One equities 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 given a strong buy rating to the company. According to data from MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Down 0.3 %

Royal Bank of Canada stock opened at $120.52 on Thursday. The firm has a market cap of $170.45 billion, a PE ratio of 14.59, a P/E/G ratio of 1.78 and a beta of 0.87. 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 moving average price is $120.71 and its two-hundred day moving average price is $121.02. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently disclosed 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 represents a $4.21 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Monday, January 27th. 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 49.76%.

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.