Sequoia Financial Advisors LLC Boosts Holdings in Royal Bank of Canada (NYSE:RY)

Sequoia Financial Advisors LLC boosted its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,190 shares of the financial services provider’s stock after buying an additional 889 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Royal Bank of Canada were worth $1,831,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of RY. Assetmark Inc. boosted its stake in shares of Royal Bank of Canada by 274.5% during the third quarter. Assetmark Inc. now owns 3,775 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 2,767 shares during the period. Entropy Technologies LP purchased a new stake in shares of Royal Bank of Canada during the third quarter valued at $823,000. OneDigital Investment Advisors LLC boosted its stake in shares of Royal Bank of Canada by 4.8% during the third quarter. OneDigital Investment Advisors LLC now owns 2,508 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 115 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Royal Bank of Canada by 0.9% during the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after purchasing an additional 124,348 shares during the period. Finally, Coastline Trust Co purchased a new stake in shares of Royal Bank of Canada during the third quarter valued at $41,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RY has been the subject of a number of recent analyst reports. 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. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets decreased their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at $111.52 on Friday. The company has a market capitalization of $157.73 billion, a PE ratio of 13.50, a P/E/G ratio of 1.80 and a beta of 0.88. 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 company has a 50-day simple moving average of $118.61 and a two-hundred day simple moving average of $121.48. 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 company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.68%. Royal Bank of Canada’s dividend payout ratio is presently 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.