Westwood Holdings Group Inc. Makes New Investment in Royal Bank of Canada (NYSE:RY)

Westwood Holdings Group Inc. bought a new position in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,137 shares of the financial services provider’s stock, valued at approximately $439,000.

A number of other large investors have also modified their holdings of the business. Contravisory Investment Management Inc. boosted its position in Royal Bank of Canada by 9.7% during the fourth quarter. Contravisory Investment Management Inc. now owns 991 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 88 shares during the period. Total Clarity Wealth Management Inc. boosted its position in shares of Royal Bank of Canada by 2.1% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,780 shares of the financial services provider’s stock valued at $507,000 after acquiring an additional 100 shares during the period. SRS Capital Advisors Inc. boosted its position in shares of Royal Bank of Canada by 15.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 751 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 103 shares during the period. Midwest Professional Planners LTD. boosted its position in shares of Royal Bank of Canada by 2.8% in the fourth quarter. Midwest Professional Planners LTD. now owns 4,079 shares of the financial services provider’s stock valued at $433,000 after acquiring an additional 113 shares during the period. Finally, Veriti Management LLC boosted its position in shares of Royal Bank of Canada by 0.9% in the fourth quarter. Veriti Management LLC now owns 12,807 shares of the financial services provider’s stock valued at $1,359,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 41.50% of the company’s stock.

A number of research firms have recently commented on RY. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, June 11th. National Bank Financial raised their price objective on shares of Royal Bank of Canada from C$147.00 to C$148.00 in a research report on Friday, May 27th. Stifel Nicolaus lowered their target price on shares of Royal Bank of Canada from C$152.00 to C$150.00 in a research note on Friday, April 8th. BMO Capital Markets lowered their target price on shares of Royal Bank of Canada from C$142.00 to C$140.00 in a research note on Friday, May 27th. Finally, TD Securities lowered their target price on shares of Royal Bank of Canada from C$150.00 to C$145.00 in a research note on Friday, May 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Buy” and a consensus price target of $143.84.

Shares of Royal Bank of Canada stock opened at $95.59 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.88 and a current ratio of 0.88. Royal Bank of Canada has a 52-week low of $94.94 and a 52-week high of $119.41. The stock has a market capitalization of $134.16 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 2.10 and a beta of 0.90. The company’s 50 day moving average price is $102.42 and its 200-day moving average price is $107.20.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Tuesday, July 26th will be issued a $0.995 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, July 25th. This represents a $3.98 annualized dividend and a dividend yield of 4.16%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 42.01%.

About Royal Bank of Canada (Get Rating)

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.

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

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