Royal Bank of Canada (NYSE:RY) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 338,009 shares of the financial services provider's stock after purchasing an additional 7,296 shares during the period. Envestnet Asset Management Inc.'s holdings in Royal Bank of Canada were worth $40,733,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. WealthTrak Capital Management LLC acquired a new position in Royal Bank of Canada during the fourth quarter worth about $28,000. Roxbury Financial LLC purchased a new stake in shares of Royal Bank of Canada during the 4th quarter worth approximately $29,000. Kieckhefer Group LLC acquired a new stake in shares of Royal Bank of Canada in the 4th quarter worth approximately $36,000. Crews Bank & Trust purchased a new position in Royal Bank of Canada in the 4th quarter valued at approximately $36,000. Finally, Jackson Grant Investment Advisers Inc. acquired a new position in Royal Bank of Canada during the fourth quarter worth $36,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RY. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. 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. Finally, CIBC upgraded shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research report on Friday, April 4th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $156.50.

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Royal Bank of Canada Trading Up 1.8 %

Shares of NYSE:RY traded up $2.06 during trading on Monday, reaching $115.33. The stock had a trading volume of 1,175,400 shares, compared to its average volume of 1,095,642. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The business has a fifty day moving average price of $115.05 and a 200-day moving average price of $120.04. The stock has a market cap of $162.81 billion, a P/E ratio of 13.96, a PEG ratio of 1.80 and a beta of 0.82. 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 firm also recently disclosed 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. This represents a $4.10 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is 46.18%.

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.