Royal Bank of Canada (NYSE:RY) Holdings Increased by Cidel Asset Management Inc.

Cidel Asset Management Inc. grew its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 575,309 shares of the financial services provider’s stock after purchasing an additional 3,238 shares during the period. Royal Bank of Canada makes up 4.7% of Cidel Asset Management Inc.’s portfolio, making the stock its biggest holding. Cidel Asset Management Inc.’s holdings in Royal Bank of Canada were worth $69,331,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Addison Advisors LLC lifted its position in Royal Bank of Canada by 9.5% during the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 82 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in shares of Royal Bank of Canada by 26.8% during the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 90 shares during the last quarter. Drive Wealth Management LLC lifted its holdings in shares of Royal Bank of Canada by 3.4% during the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 92 shares during the last quarter. Ballentine Partners LLC grew its position in Royal Bank of Canada by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 94 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in Royal Bank of Canada by 1.6% in the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.1 %

Shares of RY stock opened at $119.26 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $121.92 and a 200 day moving average of $120.40. The stock has a market capitalization of $168.68 billion, a PE ratio of 14.44, a P/E/G ratio of 1.78 and a beta of 0.87. Royal Bank of Canada has a 1-year low of $93.97 and a 1-year high of $128.05.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a $1.0522 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.53%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.76%.

Analyst Upgrades and Downgrades

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

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.