Sagespring Wealth Partners LLC Acquires New Shares in Royal Bank of Canada (NYSE:RY)

Sagespring Wealth Partners LLC acquired a new position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,627 shares of the financial services provider's stock, valued at approximately $317,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC acquired a new position in shares of Royal Bank of Canada in the 4th quarter valued at approximately $28,000. Roxbury Financial LLC acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at about $29,000. Kieckhefer Group LLC acquired a new position in shares of Royal Bank of Canada during the fourth quarter worth about $36,000. Crews Bank & Trust bought a new position in shares of Royal Bank of Canada during the fourth quarter worth about $36,000. Finally, Jackson Grant Investment Advisers Inc. acquired a new position in Royal Bank of Canada during the 4th quarter worth approximately $36,000. 45.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

RY has been the topic of several analyst reports. Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, CIBC raised shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of "Buy" and an average target price of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE RY traded down $1.11 during trading hours on Monday, hitting $115.13. 125,568 shares of the stock were exchanged, compared to its average volume of 1,101,830. The company's fifty day simple moving average is $114.82 and its two-hundred day simple moving average is $119.83. 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 has a 1-year low of $95.84 and a 1-year high of $128.05. The company has a market cap of $162.53 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is 46.18%.

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.