Cerity Partners LLC Has $4.74 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Cerity Partners LLC lowered its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,036 shares of the financial services provider's stock after selling 4,451 shares during the period. Cerity Partners LLC's holdings in Royal Bank of Canada were worth $4,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Royal Bank of Canada by 1.9% during 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 acquiring an additional 64,450 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Royal Bank of Canada during the 4th quarter valued at $60,034,000. Wealth High Governance Capital Ltda bought a new stake in shares of Royal Bank of Canada in the 4th quarter worth $10,243,000. Jones Financial Companies Lllp raised its stake in shares of Royal Bank of Canada by 1,322.0% in the 4th 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, Baskin Financial Services Inc. lifted its holdings in shares of Royal Bank of Canada by 31.3% in the fourth quarter. Baskin Financial Services Inc. now owns 59,849 shares of the financial services provider's stock valued at $7,212,000 after buying an additional 14,250 shares during the period. 45.31% of the stock is currently owned by institutional investors.

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Royal Bank of Canada Trading Down 0.1 %

NYSE RY traded down $0.15 on Tuesday, hitting $115.24. 1,812,593 shares of the company were exchanged, compared to its average volume of 1,101,933. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The firm has a market capitalization of $162.67 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. The company's 50 day moving average price is $114.97 and its 200-day moving average price is $120.00.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.56%. Royal Bank of Canada's dividend payout ratio is currently 46.18%.

Analyst Ratings Changes

Several brokerages have commented on RY. 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. CIBC upgraded shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. Finally, Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target 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.