Wealth Enhancement Advisory Services LLC Boosts Position in Royal Bank of Canada (NYSE:RY)

Wealth Enhancement Advisory Services LLC boosted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,103 shares of the financial services provider’s stock after purchasing an additional 254 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Royal Bank of Canada were worth $3,879,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in shares of Royal Bank of Canada by 2,995.0% in the fourth quarter. Versant Capital Management Inc now owns 619 shares of the financial services provider’s stock worth $75,000 after buying an additional 599 shares during the last quarter. Trust Co of the South boosted its stake in shares of Royal Bank of Canada by 0.9% during the 4th quarter. Trust Co of the South now owns 25,043 shares of the financial services provider’s stock worth $3,018,000 after acquiring an additional 225 shares during the last quarter. 1ST Source Bank bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at $214,000. Logan Capital Management Inc. increased its stake in shares of Royal Bank of Canada by 4.1% in the 3rd quarter. Logan Capital Management Inc. now owns 33,003 shares of the financial services provider’s stock worth $4,116,000 after purchasing an additional 1,293 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in Royal Bank of Canada in the 3rd quarter worth $748,000. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RY shares. BMO Capital Markets reduced their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Trading Up 0.3 %

Shares of RY opened at $118.72 on Tuesday. The firm has a market cap of $167.83 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87. 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 has a 1 year low of $93.97 and a 1 year high of $128.05. The company has a 50 day simple moving average of $122.91 and a two-hundred day simple moving average of $119.12.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be paid a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a yield of 3.55%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.76%.

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.