SVB Wealth LLC Buys New Holdings in Royal Bank of Canada (NYSE:RY)

SVB Wealth LLC purchased a new position in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,295 shares of the financial services provider’s stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada in the third quarter worth $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada during the 3rd quarter valued at $26,000. Roxbury Financial LLC purchased a new position in Royal Bank of Canada during the 4th quarter valued at $29,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Royal Bank of Canada in the 4th quarter worth about $36,000. Institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RY. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. BMO Capital Markets reduced their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Up 2.5 %

NYSE:RY opened at $115.42 on Thursday. 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 firm has a market cap of $163.24 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The firm has a 50-day simple moving average of $119.80 and a two-hundred day simple moving average of $121.62.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid 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 3.55%. Royal Bank of Canada’s dividend payout ratio is 45.96%.

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.