Mercer Global Advisors Inc. ADV Purchases 5,622 Shares of Royal Bank of Canada (NYSE:RY)

Mercer Global Advisors Inc. ADV boosted its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 40.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,476 shares of the financial services provider's stock after buying an additional 5,622 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Royal Bank of Canada were worth $2,347,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. WealthTrak Capital Management LLC bought a new stake in Royal Bank of Canada in the fourth quarter worth approximately $28,000. Roxbury Financial LLC acquired a new stake in shares of Royal Bank of Canada in the fourth quarter worth about $29,000. Optiver Holding B.V. bought a new position in shares of Royal Bank of Canada in the 4th quarter valued at approximately $35,000. Kieckhefer Group LLC bought a new stake in Royal Bank of Canada during the fourth quarter worth approximately $36,000. Finally, Crews Bank & Trust acquired a new position in Royal Bank of Canada during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. CIBC raised shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research report on Friday, April 4th. Finally, StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $156.50.

Royal Bank of Canada Stock Up 0.2 %

Shares of RY traded up $0.26 during midday trading on Friday, hitting $120.09. The stock had a trading volume of 1,540,197 shares, compared to its average volume of 1,096,727. The firm has a market cap of $169.53 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89. The company has a 50 day simple moving average of $115.04 and a two-hundred day simple moving average of $119.40. Royal Bank of Canada has a twelve month low of $102.44 and a twelve month high of $128.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders 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 dividend payout ratio (DPR) is presently 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.