Bragg Financial Advisors Inc Has $11.59 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Bragg Financial Advisors Inc lowered its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 96,169 shares of the financial services provider’s stock after selling 604 shares during the quarter. Bragg Financial Advisors Inc’s holdings in Royal Bank of Canada were worth $11,589,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in Royal Bank of Canada by 38.7% in the third quarter. BNP Paribas Financial Markets now owns 1,276 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 356 shares in the last quarter. Barclays PLC lifted its holdings in shares of Royal Bank of Canada by 3.1% in the 3rd quarter. Barclays PLC now owns 8,831 shares of the financial services provider’s stock worth $1,101,000 after purchasing an additional 268 shares in the last quarter. Te Ahumairangi Investment Management Ltd grew its position in Royal Bank of Canada by 1.4% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 35,540 shares of the financial services provider’s stock valued at $4,416,000 after purchasing an additional 500 shares during the period. Fulcrum Equity Management bought a new stake in Royal Bank of Canada during the 3rd quarter valued at $216,000. Finally, Sanctuary Advisors LLC raised its holdings in Royal Bank of Canada by 3.8% during the third quarter. Sanctuary Advisors LLC now owns 16,287 shares of the financial services provider’s stock worth $2,037,000 after buying an additional 589 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Finally, CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Up 3.0 %

Royal Bank of Canada stock opened at $113.26 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $159.89 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The firm’s 50-day simple moving average is $115.13 and its 200 day simple moving average is $120.13.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is presently 45.96%.

Royal Bank of Canada Company 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.