NewEdge Advisors LLC Increases Stock Holdings in Royal Bank of Canada (NYSE:RY)

NewEdge Advisors LLC increased its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 64.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,444 shares of the financial services provider's stock after acquiring an additional 2,920 shares during the quarter. NewEdge Advisors LLC's holdings in Royal Bank of Canada were worth $897,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. WealthTrak Capital Management LLC bought a new stake in Royal Bank of Canada during the fourth quarter worth about $28,000. Roxbury Financial LLC acquired a new position in Royal Bank of Canada during the fourth quarter valued at approximately $29,000. Kieckhefer Group LLC acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth $36,000. Crews Bank & Trust acquired a new stake in Royal Bank of Canada in the fourth quarter valued at about $36,000. Finally, Jackson Grant Investment Advisers Inc. bought a new stake in shares of Royal Bank of Canada during the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on RY. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. CIBC upgraded Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a 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, February 28th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $156.50.

Royal Bank of Canada Trading Down 0.6 %

Shares of RY stock traded down $0.75 during mid-day trading on Wednesday, hitting $119.15. The company's stock had a trading volume of 323,774 shares, compared to its average volume of 1,099,097. Royal Bank of Canada has a 52 week low of $96.52 and a 52 week high of $128.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The company's fifty day simple moving average is $114.58 and its 200-day simple moving average is $119.63. The company has a market cap of $168.20 billion, a PE ratio of 14.42, a P/E/G ratio of 1.80 and a beta of 0.82.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.44%. Royal Bank of Canada's dividend 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.