Stephens Inc. AR Buys 616 Shares of Royal Bank of Canada (NYSE:RY)

Stephens Inc. AR boosted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.4% during the fourth quarter, Holdings Channel reports. The fund owned 10,268 shares of the financial services provider’s stock after acquiring an additional 616 shares during the period. Stephens Inc. AR’s holdings in Royal Bank of Canada were worth $1,237,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Royal Bank of Canada during the third quarter worth approximately $25,000. Dunhill Financial LLC bought a new position in shares of Royal Bank of Canada during the 3rd quarter valued at $25,000. Larson Financial Group LLC bought a new position in shares of Royal Bank of Canada during the 3rd quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. raised its position in Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 118 shares during the period. Finally, Grove Bank & Trust bought a new stake in Royal Bank of Canada in the third quarter worth $28,000. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. BMO Capital Markets reduced their price objective on 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. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. One equities research 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 company has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Down 0.1 %

NYSE RY opened at $118.31 on Thursday. The business’s 50-day moving average is $121.52 and its 200 day moving average is $120.70. The stock has a market capitalization of $167.33 billion, a PE ratio of 14.32, a PEG ratio of 1.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a dividend of $1.0522 per share. The ex-dividend date is Monday, January 27th. 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 dividend yield of 3.56%. Royal Bank of Canada’s payout ratio is 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.