Royal Bank of Canada (NYSE:RY) Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC increased its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 144.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,295 shares of the financial services provider's stock after purchasing an additional 9,627 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Royal Bank of Canada were worth $1,982,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in 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 worth $427,589,000 after purchasing an additional 64,450 shares during the period. Raymond James Financial Inc. purchased a new stake in Royal Bank of Canada during the fourth quarter valued at $60,034,000. Wealth High Governance Capital Ltda purchased a new stake in shares of Royal Bank of Canada during the 4th quarter valued at about $10,243,000. Jones Financial Companies Lllp increased its holdings in 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 valued at $483,000 after buying an additional 3,728 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Royal Bank of Canada by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider's stock worth $805,616,000 after purchasing an additional 541,760 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

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Royal Bank of Canada Trading Down 1.5 %

Royal Bank of Canada stock traded down $1.62 during trading on Monday, hitting $109.29. The company had a trading volume of 2,051,429 shares, compared to its average volume of 1,064,656. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The company's 50 day simple moving average is $116.33 and its 200-day simple moving average is $120.58. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The stock has a market cap of $154.28 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82.

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 3.75%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's payout ratio is 45.96%.

Analyst Upgrades and Downgrades

RY has been the topic of several recent analyst reports. 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 raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday. Finally, Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "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.