NewEdge Advisors LLC Has $897,000 Stock Holdings in Royal Bank of Canada (NYSE:RY)

NewEdge Advisors LLC increased its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 64.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,444 shares of the financial services provider's stock after acquiring an additional 2,920 shares during the period. NewEdge Advisors LLC's holdings in Royal Bank of Canada were worth $897,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. WealthTrak Capital Management LLC acquired a new stake in shares of Royal Bank of Canada during the 4th quarter worth approximately $28,000. Roxbury Financial LLC bought a new position in Royal Bank of Canada in the 4th quarter valued at approximately $29,000. Kieckhefer Group LLC bought a new position in Royal Bank of Canada in the 4th quarter valued at approximately $36,000. Crews Bank & Trust bought a new position in Royal Bank of Canada in the 4th quarter valued at approximately $36,000. Finally, Jackson Grant Investment Advisers Inc. bought a new position in Royal Bank of Canada in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. CIBC raised shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. 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. Finally, StockNews.com raised shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $156.50.

Royal Bank of Canada Trading Up 0.7 %

Shares of RY stock traded up $0.81 during trading hours on Monday, hitting $118.57. 1,006,227 shares of the company's stock traded hands, compared to its average volume of 1,101,753. The stock's 50 day simple moving average is $114.57 and its 200 day simple moving average is $119.63. The stock has a market cap of $167.38 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a 12 month low of $96.52 and a 12 month high of $128.05. 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 company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.46%. Royal Bank of Canada's payout ratio is 46.18%.

Royal Bank of Canada Company 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.