Cary Street Partners Financial LLC Purchases New Stake in Royal Bank of Canada (NYSE:RY)

Cary Street Partners Financial LLC purchased a new position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,162 shares of the financial services provider's stock, valued at approximately $2,671,000.

A number of other large investors also recently modified their holdings of the company. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter valued at about $29,000. WealthTrak Capital Management LLC purchased a new stake in Royal Bank of Canada in the fourth quarter valued at approximately $28,000. Optiver Holding B.V. bought a new stake in Royal Bank of Canada during the fourth quarter valued at approximately $35,000. Jackson Grant Investment Advisers Inc. purchased a new position in Royal Bank of Canada in the 4th quarter worth approximately $36,000. Finally, Kieckhefer Group LLC bought a new position in shares of Royal Bank of Canada in the 4th quarter worth $36,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Trading Up 0.2 %

Shares of NYSE:RY traded up $0.26 on Friday, reaching $120.09. 1,540,197 shares of the company traded hands, compared to its average volume of 1,096,727. The stock has a market capitalization of $169.53 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89. The business's 50-day simple moving average is $115.04 and its 200 day simple moving average is $119.40. 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 has a 52 week low of $102.44 and a 52 week high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently declared 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 of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.41%. Royal Bank of Canada's payout ratio is 46.18%.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of research analyst reports. CIBC raised shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Finally, StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $156.50.

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.