Royal Bank of Canada (NYSE:RY) Shares Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,097 shares of the financial services provider’s stock after buying an additional 1,337 shares during the period. Avantax Advisory Services Inc.’s holdings in Royal Bank of Canada were worth $1,217,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RY. Hopwood Financial Services Inc. purchased a new stake in Royal Bank of Canada in the 4th quarter valued at $60,000. EverSource Wealth Advisors LLC grew its holdings in shares of Royal Bank of Canada by 10.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,628 shares of the financial services provider’s stock worth $196,000 after buying an additional 157 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Royal Bank of Canada by 6.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,190 shares of the financial services provider’s stock valued at $1,831,000 after acquiring an additional 889 shares during the last quarter. Wealth High Governance Capital Ltda purchased a new stake in Royal Bank of Canada during the 4th quarter valued at approximately $10,243,000. Finally, Sollinda Capital Management LLC grew its stake in shares of Royal Bank of Canada by 16.1% in the 4th quarter. Sollinda Capital Management LLC now owns 4,264 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 590 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RY. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. BMO Capital Markets lowered their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Finally, Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Price Performance

RY stock opened at $112.45 on Wednesday. The firm has a 50 day moving average of $118.26 and a 200-day moving average of $121.43. The company has a market cap of $158.74 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors 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 payout ratio is 45.96%.

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.