Virtu Financial LLC Takes $276,000 Position in Royal Bank of Canada (NYSE:RY)

Virtu Financial LLC acquired a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,731 shares of the financial services provider’s stock, valued at approximately $276,000.

Other large investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in shares of Royal Bank of Canada by 64.7% during the 4th quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 185 shares during the period. Addison Advisors LLC increased its holdings in Royal Bank of Canada by 131.0% in the fourth quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock valued at $53,000 after buying an additional 300 shares in the last quarter. Heritage Wealth Advisors acquired a new stake in shares of Royal Bank of Canada during the 4th quarter valued at approximately $61,000. EverSource Wealth Advisors LLC boosted its stake in shares of Royal Bank of Canada by 192.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 716 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 471 shares in the last quarter. Finally, Janiczek Wealth Management LLC grew its holdings in shares of Royal Bank of Canada by 36.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 197 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Scotiabank raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. Argus boosted their price objective on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Jefferies Financial Group raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Finally, Barclays started coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.25.

Royal Bank of Canada Trading Down 0.4 %

Shares of RY stock opened at $103.40 on Friday. The company has a market capitalization of $146.32 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.63 and a beta of 0.87. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $102.86 and a 200 day moving average price of $100.08. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $109.51.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Thursday, July 25th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s payout ratio is currently 50.62%.

Royal Bank of Canada Company 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.