Royal Bank of Canada (NYSE:RY) Shares Purchased by World Investment Advisors LLC

World Investment Advisors LLC boosted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 74.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,521 shares of the financial services provider’s stock after buying an additional 2,350 shares during the quarter. World Investment Advisors LLC’s holdings in Royal Bank of Canada were worth $689,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RY. Capital Performance Advisors LLP purchased a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new position in Royal Bank of Canada during the third quarter worth $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada in the third quarter worth $26,000. Ridgewood Investments LLC acquired a new stake in Royal Bank of Canada in the second quarter valued at $27,000. Finally, Grove Bank & Trust purchased a new stake in shares of Royal Bank of Canada during the 3rd quarter worth $28,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $124.41 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $124.11 and its 200 day moving average price is $117.02. Royal Bank of Canada has a 52 week low of $93.97 and a 52 week high of $128.05. The stock has a market cap of $175.87 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be given a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a dividend yield of 3.38%. Royal Bank of Canada’s dividend payout ratio is currently 50.85%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets cut 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 report on Thursday, December 5th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a 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 analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Profile

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.