Wedbush Securities Inc. Acquires 807 Shares of Royal Bank of Canada (NYSE:RY)

Wedbush Securities Inc. boosted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,546 shares of the financial services provider’s stock after purchasing an additional 807 shares during the quarter. Wedbush Securities Inc.’s holdings in Royal Bank of Canada were worth $1,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in shares of Royal Bank of Canada by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after purchasing an additional 64,450 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Royal Bank of Canada in the 4th quarter valued at $60,034,000. Wealth High Governance Capital Ltda acquired a new position in Royal Bank of Canada in the 4th quarter valued at $10,243,000. Jones Financial Companies Lllp lifted its holdings in shares of Royal Bank of Canada by 1,322.0% during the fourth quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider’s stock worth $483,000 after buying an additional 3,728 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Royal Bank of Canada by 9.3% during the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock worth $805,616,000 after buying an additional 541,760 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RY has been the topic of several research reports. Cibc World Mkts upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday. CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $156.50.

Royal Bank of Canada Trading Down 3.5 %

Shares of Royal Bank of Canada stock opened at $111.13 on Monday. The firm’s 50-day moving average price is $116.60 and its two-hundred day moving average price is $120.68. The company has a market capitalization of $156.88 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.80 and a beta of 0.82. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed 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 is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.69%. Royal Bank of Canada’s dividend payout ratio is currently 45.96%.

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.