Commonwealth Equity Services LLC Boosts Stock Holdings in Royal Bank of Canada (NYSE:RY)

Commonwealth Equity Services LLC grew its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,495 shares of the financial services provider’s stock after buying an additional 1,200 shares during the period. Commonwealth Equity Services LLC’s holdings in Royal Bank of Canada were worth $12,111,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dunhill Financial LLC purchased a new position in shares of Royal Bank of Canada in the 3rd quarter worth $25,000. Larson Financial Group LLC purchased a new position in shares of Royal Bank of Canada in the 3rd quarter worth $26,000. Roxbury Financial LLC purchased a new position in shares of Royal Bank of Canada in the 4th quarter worth $29,000. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Royal Bank of Canada in the 4th quarter worth $36,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Royal Bank of Canada in the 4th quarter worth $36,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

Shares of RY stock opened at $112.45 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $158.74 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.80 and a beta of 0.88. The company’s 50-day simple moving average is $118.26 and its two-hundred day simple moving average is $121.43. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.65%. Royal Bank of Canada’s dividend payout ratio is currently 45.96%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. BMO Capital Markets dropped their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.