Guggenheim Capital LLC Purchases 566 Shares of Royal Bank of Canada (NYSE:RY)

Guggenheim Capital LLC raised its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 26.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,687 shares of the financial services provider’s stock after purchasing an additional 566 shares during the quarter. Guggenheim Capital LLC’s holdings in Royal Bank of Canada were worth $324,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Roxbury Financial LLC bought a new position in shares of Royal Bank of Canada during the fourth quarter worth about $29,000. WealthTrak Capital Management LLC bought a new position in shares of Royal Bank of Canada during the fourth quarter worth about $28,000. Jackson Grant Investment Advisers Inc. bought a new position in shares of Royal Bank of Canada during the fourth quarter worth about $36,000. Kieckhefer Group LLC bought a new position in shares of Royal Bank of Canada during the fourth quarter worth about $36,000. Finally, Crews Bank & Trust bought a new position in shares of Royal Bank of Canada during the fourth quarter worth about $36,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Price Performance

Shares of RY opened at $117.79 on Monday. The stock has a market cap of $166.28 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.80 and a beta of 0.82. The business’s fifty day moving average is $114.61 and its 200 day moving average is $119.66. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12-month low of $96.52 and a 12-month high of $128.05.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.48%. Royal Bank of Canada’s payout ratio is 46.18%.

Analysts Set New Price Targets

RY has been the subject of several recent analyst reports. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Friday, April 4th. Finally, Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “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.