CogentBlue Wealth Advisors LLC Invests $201,000 in Royal Bank of Canada (NYSE:RY)

CogentBlue Wealth Advisors LLC bought a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,669 shares of the financial services provider’s stock, valued at approximately $201,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Addison Advisors LLC grew its holdings in Royal Bank of Canada by 9.5% in the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 82 shares during the period. Financial Management Professionals Inc. grew its stake in Royal Bank of Canada by 26.8% in the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 90 shares during the period. Drive Wealth Management LLC increased its holdings in Royal Bank of Canada by 3.4% in the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 92 shares in the last quarter. Ballentine Partners LLC raised its position in Royal Bank of Canada by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 94 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in Royal Bank of Canada by 1.6% during the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after purchasing an additional 95 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Trading Down 0.3 %

Shares of Royal Bank of Canada stock opened at $120.52 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $120.71 and its 200-day simple moving average is $121.02. The stock has a market cap of $170.45 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.78 and a beta of 0.87. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a $1.0522 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio is presently 49.76%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. 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. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets reduced their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.