Cetera Investment Advisers Has $4.89 Million Holdings in Royal Bank of Canada (NYSE:RY)

Cetera Investment Advisers grew its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 16.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,583 shares of the financial services provider's stock after purchasing 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.

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

Royal Bank of Canada Price Performance

RY stock traded up $1.02 during trading hours on Friday, hitting $125.80. 2,259,694 shares of the stock traded hands, compared to its average volume of 1,116,194. The stock has a 50-day simple moving average of $115.99 and a 200 day simple moving average of $119.34. The company has a market cap of $177.58 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.80 and a beta of 0.89. Royal Bank of Canada has a one year low of $102.44 and a one year 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. Stockholders 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 dividend yield of 3.26%. Royal Bank of Canada's dividend payout ratio (DPR) is 46.18%.

Analysts Set New Price Targets

A number of brokerages have recently commented on RY. CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Cibc World Mkts upgraded shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, Scotiabank began coverage on shares of Royal Bank of Canada in a research note on Thursday. They issued a "sector outperform" rating for the company. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada presently has a consensus rating of "Moderate Buy" and an average target price of $156.50.

Royal Bank of Canada Company 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.