Royal Bank of Canada (NYSE:RY) Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.7% in the fourth quarter, Holdings Channel reports. The firm owned 1,628 shares of the financial services provider’s stock after buying an additional 157 shares during the period. EverSource Wealth Advisors LLC’s holdings in Royal Bank of Canada were worth $196,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RY. OneDigital Investment Advisors LLC increased its position in shares of Royal Bank of Canada by 4.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,508 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 115 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of Royal Bank of Canada during the 3rd quarter worth about $41,000. Natixis Advisors LLC increased its position 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 purchasing an additional 4,615 shares during the last quarter. Prudent Man Advisors LLC acquired a new stake in shares of Royal Bank of Canada during the 3rd quarter worth about $220,000. Finally, Drive Wealth Management LLC increased its position 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 purchasing an additional 92 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Performance

Shares of RY opened at $111.52 on Monday. The stock has a 50-day simple moving average of $118.61 and a 200-day simple moving average of $121.54. 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 stock has a market capitalization of $157.43 billion, a PE ratio of 13.50, a PEG ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is presently 45.96%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RY. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. BMO Capital Markets lowered their target price on 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. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Three investment 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. Based on data from MarketBeat, the company currently has a consensus 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.