Orion Portfolio Solutions LLC Acquires 1,729 Shares of Royal Bank of Canada (NYSE:RY)

Orion Portfolio Solutions LLC grew its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,458 shares of the financial services provider’s stock after acquiring an additional 1,729 shares during the period. Orion Portfolio Solutions LLC’s holdings in Royal Bank of Canada were worth $2,345,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RY. Norges Bank purchased a new position in Royal Bank of Canada during the 4th quarter valued at $2,425,519,000. Vanguard Group Inc. boosted its stake in shares of Royal Bank of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider’s stock valued at $7,136,056,000 after purchasing an additional 1,104,975 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Royal Bank of Canada by 9.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider’s stock valued at $1,338,156,000 after buying an additional 921,276 shares during the period. Mufg Securities Canada LTD. lifted its holdings in Royal Bank of Canada by 72.0% in the fourth quarter. Mufg Securities Canada LTD. now owns 2,160,865 shares of the financial services provider’s stock worth $260,373,000 after buying an additional 904,909 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its position in Royal Bank of Canada by 360.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 881,128 shares of the financial services provider’s stock valued at $106,123,000 after acquiring an additional 689,904 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Performance

RY stock opened at $113.67 on Wednesday. The stock has a market capitalization of $160.47 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The stock’s 50 day simple moving average is $117.10 and its 200 day simple moving average is $120.88. 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 given a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.61%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RY shares. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Finally, BMO Capital Markets decreased 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. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada 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.