SVB Wealth LLC Acquires Shares of 2,295 Royal Bank of Canada (NYSE:RY)

SVB Wealth LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,295 shares of the financial services provider’s stock, valued at approximately $277,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Dunhill Financial LLC bought a new stake in shares of Royal Bank of Canada during 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 about $26,000. Roxbury Financial LLC bought a new position in Royal Bank of Canada during the fourth quarter valued at about $29,000. Finally, Kieckhefer Group LLC purchased a new stake in Royal Bank of Canada during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RY. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. 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. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Two investment 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. According to data from MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $115.42 on Thursday. The stock’s 50-day simple moving average is $119.80 and its two-hundred day simple moving average is $121.62. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The firm has a market capitalization of $163.24 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.80 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.55%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

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.