Cetera Investment Advisers Raises Position in Royal Bank of Canada (NYSE:RY)

Cetera Investment Advisers lifted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 16.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,583 shares of the financial services provider’s stock after buying an additional 5,663 shares during the period. Cetera Investment Advisers’ holdings in Royal Bank of Canada were worth $4,891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Ruggaard & Associates LLC boosted its position in shares of Royal Bank of Canada by 1.8% in the fourth quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider’s stock worth $565,000 after buying an additional 85 shares during the period. Financial Management Professionals Inc. boosted its position in shares of Royal Bank of Canada by 26.8% in the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock worth $51,000 after buying an additional 90 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Royal Bank of Canada by 3.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider’s stock worth $345,000 after acquiring an additional 90 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of Royal Bank of Canada by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 94 shares in the last quarter. Finally, Richardson Financial Services Inc. lifted its stake in shares of Royal Bank of Canada by 45.7% in the fourth quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

RY has been the topic of several recent analyst reports. CIBC upgraded Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Friday, April 4th. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Finally, Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $156.50.

Royal Bank of Canada Trading Up 0.6%

Shares of NYSE RY opened at $122.57 on Thursday. The stock’s 50 day moving average price is $115.45 and its two-hundred day moving average price is $119.35. Royal Bank of Canada has a 52-week low of $102.44 and a 52-week high of $128.05. The stock has a market capitalization of $173.03 billion, a P/E ratio of 14.84, a PEG ratio of 1.80 and a beta of 0.89. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is currently 46.18%.

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.