Proficio Capital Partners LLC Invests $5.88 Million in Royal Bank of Canada (NYSE:RY)

Proficio Capital Partners LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 48,807 shares of the financial services provider’s stock, valued at approximately $5,882,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. FMR LLC grew its stake in Royal Bank of Canada by 75.8% during the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after acquiring an additional 7,702,585 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Royal Bank of Canada by 165.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock valued at $361,532,000 after acquiring an additional 1,804,022 shares in the last quarter. Geode Capital Management LLC grew its stake in Royal Bank of Canada by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after acquiring an additional 541,760 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Royal Bank of Canada by 18.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock valued at $291,925,000 after acquiring an additional 359,719 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Royal Bank of Canada during the 3rd quarter valued at about $42,072,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 2.5 %

Shares of NYSE RY opened at $111.52 on Monday. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. 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 stock has a fifty day simple moving average of $118.61 and a 200-day simple moving average of $121.54. The stock has a market capitalization of $157.43 billion, a PE ratio of 13.50, a PEG ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.68%. Royal Bank of Canada’s payout ratio is presently 45.96%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. BMO Capital Markets decreased their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Finally, CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.