Sanibel Captiva Trust Company Inc. Buys 425 Shares of Royal Bank of Canada (NYSE:RY)

Sanibel Captiva Trust Company Inc. lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 19.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,666 shares of the financial services provider’s stock after purchasing an additional 425 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Royal Bank of Canada were worth $321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Addison Advisors LLC grew its holdings in Royal Bank of Canada by 9.5% during 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. Mount Yale Investment Advisors LLC grew its stake in shares of Royal Bank of Canada by 1.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock worth $619,000 after acquiring an additional 92 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 during the last quarter. Private Advisor Group LLC raised its stake in Royal Bank of Canada by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after acquiring an additional 95 shares during the period. Finally, Leisure Capital Management boosted its position in Royal Bank of Canada by 1.1% during the third quarter. Leisure Capital Management now owns 9,366 shares of the financial services provider’s stock worth $1,168,000 after purchasing an additional 100 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Trading Up 0.3 %

Shares of RY stock opened at $120.46 on Monday. The company has a market capitalization of $170.29 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.77 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 business’s fifty day moving average is $122.59 and its 200 day moving average is $119.40. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio 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. Shareholders of record on Monday, January 27th will be issued a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.49%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.85%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. BMO Capital Markets reduced their price target on 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, StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently 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.