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

Parallel Advisors LLC lifted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,681 shares of the financial services provider’s stock after purchasing an additional 274 shares during the period. Parallel Advisors LLC’s holdings in Royal Bank of Canada were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in RY. OneDigital Investment Advisors LLC lifted its stake in shares of Royal Bank of Canada by 4.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,508 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 115 shares during the period. Natixis Advisors LLC raised its position in Royal Bank of Canada by 3.9% during the third 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. Caprock Group LLC raised its position in Royal Bank of Canada by 15.4% during the third quarter. Caprock Group LLC now owns 7,296 shares of the financial services provider’s stock worth $910,000 after acquiring an additional 971 shares during the period. BIP Wealth LLC acquired a new position in Royal Bank of Canada during the third quarter worth $364,000. Finally, PNC Financial Services Group Inc. raised its position in Royal Bank of Canada by 6.3% during the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock worth $10,483,000 after acquiring an additional 4,980 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. BMO Capital Markets reduced 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 research report on Thursday, December 5th. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Finally, StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $114.25 on Thursday. The firm has a 50-day simple moving average of $118.11 and a 200-day simple moving average of $121.38. The stock has a market capitalization of $161.28 billion, a price-to-earnings ratio of 13.83, 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 has a 52 week low of $95.84 and a 52 week high of $128.05.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) 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.