Sage Mountain Advisors LLC Buys Shares of 5,906 Royal Bank of Canada (NYSE:RY)

Sage Mountain Advisors LLC bought a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,906 shares of the financial services provider’s stock, valued at approximately $485,000.

Several other large investors have also made changes to their positions in RY. FMR LLC boosted its position in shares of Royal Bank of Canada by 22.4% during the second quarter. FMR LLC now owns 5,476,492 shares of the financial services provider’s stock valued at $371,567,000 after buying an additional 1,002,340 shares during the period. Private Advisor Group LLC bought a new stake in shares of Royal Bank of Canada during the second quarter valued at approximately $138,000. Cox Capital Mgt LLC raised its stake in shares of Royal Bank of Canada by 1.7% during the third quarter. Cox Capital Mgt LLC now owns 10,288 shares of the financial services provider’s stock valued at $722,000 after acquiring an additional 173 shares in the last quarter. Nexus Investment Management ULC raised its stake in shares of Royal Bank of Canada by 0.9% during the third quarter. Nexus Investment Management ULC now owns 497,382 shares of the financial services provider’s stock valued at $34,894,000 after acquiring an additional 4,630 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its stake in shares of Royal Bank of Canada by 1.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 8,524 shares of the financial services provider’s stock valued at $598,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 40.81% of the company’s stock.

RY has been the subject of several research analyst reports. Zacks Investment Research raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research note on Friday, November 20th. CIBC lifted their price target on shares of Royal Bank of Canada from $127.00 to $128.00 and gave the company a “neutral” rating in a research note on Thursday, December 3rd. Veritas Investment Research raised shares of Royal Bank of Canada from a “sell” rating to a “buy” rating in a research note on Thursday, October 29th. Barclays boosted their price objective on shares of Royal Bank of Canada from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, November 12th. Finally, Scotiabank boosted their price objective on shares of Royal Bank of Canada from $122.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, December 3rd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Royal Bank of Canada currently has a consensus rating of “Buy” and a consensus price target of $104.68.

Shares of RY stock traded down $0.33 during trading hours on Thursday, reaching $85.11. 37,140 shares of the company’s stock were exchanged, compared to its average volume of 805,937. The stock’s 50 day moving average is $82.98 and its 200-day moving average is $75.69. The company has a market cap of $121.04 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.75 and a beta of 0.99. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a fifty-two week low of $49.55 and a fifty-two week high of $86.14.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Tuesday, December 1st. The financial services provider reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.73. The business had revenue of $11.09 billion for the quarter, compared to the consensus estimate of $11.45 billion. Royal Bank of Canada had a return on equity of 14.84% and a net margin of 18.78%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 earnings per share. Equities analysts anticipate that Royal Bank of Canada will post 6.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 24th. Stockholders of record on Tuesday, January 26th will be given a dividend of $0.811 per share. The ex-dividend date of this dividend is Monday, January 25th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.81. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.81%. Royal Bank of Canada’s dividend payout ratio is presently 54.64%.

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, 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.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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