Signaturefd LLC Grows Position in Royal Bank of Canada (NYSE:RY)

Signaturefd LLC lifted its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,909 shares of the financial services provider’s stock after buying an additional 1,150 shares during the period. Signaturefd LLC’s holdings in Royal Bank of Canada were worth $3,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. OneDigital Investment Advisors LLC lifted its position in Royal Bank of Canada by 4.8% during the third quarter. OneDigital Investment Advisors LLC now owns 2,508 shares of the financial services provider’s stock worth $313,000 after buying an additional 115 shares in the last quarter. Coastline Trust Co purchased a new position in shares of Royal Bank of Canada during the 3rd quarter worth $41,000. Natixis Advisors LLC raised its holdings in shares of Royal Bank of Canada by 3.9% during the 3rd quarter. Natixis Advisors LLC now owns 122,223 shares of the financial services provider’s stock worth $15,245,000 after acquiring an additional 4,615 shares during the period. Prudent Man Advisors LLC acquired a new position in shares of Royal Bank of Canada during the 3rd quarter valued at about $220,000. Finally, Drive Wealth Management LLC grew its holdings in shares of Royal Bank of Canada by 3.4% in the third quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 92 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on RY. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, BMO Capital Markets decreased their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Up 1.1 %

NYSE:RY opened at $112.66 on Tuesday. Royal Bank of Canada has a 52 week low of $95.84 and a 52 week high of $128.05. The stock’s fifty day moving average is $118.44 and its two-hundred day moving average is $121.49. The stock has a market capitalization of $159.04 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. 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 Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.64%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.96%.

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.