Virtu Financial LLC Invests $361,000 in Royal Bank of Canada (NYSE:RY)

Virtu Financial LLC bought a new stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,994 shares of the financial services provider's stock, valued at approximately $361,000.

Several other large investors have also modified their holdings of RY. Advisors Asset Management Inc. increased its holdings in Royal Bank of Canada by 14.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,743 shares of the financial services provider's stock valued at $467,000 after purchasing an additional 461 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Royal Bank of Canada by 24.6% in the third quarter. Cerity Partners LLC now owns 43,487 shares of the financial services provider's stock valued at $5,424,000 after buying an additional 8,576 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in shares of Royal Bank of Canada by 3.9% in the third quarter. Kingsview Wealth Management LLC now owns 3,423 shares of the financial services provider's stock valued at $427,000 after buying an additional 127 shares in the last quarter. Algert Global LLC acquired a new position in Royal Bank of Canada during the 3rd quarter worth about $706,000. Finally, Larson Financial Group LLC acquired a new position in Royal Bank of Canada during the 3rd quarter worth about $26,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. CIBC reaffirmed a "neutral" rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Finally, BMO Capital Markets decreased their price target 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. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada has a consensus rating of "Moderate Buy" and an average price target of $156.50.

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Royal Bank of Canada Stock Down 2.3 %

Royal Bank of Canada stock traded down $2.67 during trading on Friday, reaching $112.04. The stock had a trading volume of 843,252 shares, compared to its average volume of 1,063,070. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05. The business has a 50 day moving average price of $117.43 and a 200 day moving average price of $121.03. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a market cap of $158.17 billion, a PE ratio of 13.56, a P/E/G ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The firm 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. This represents a $4.10 annualized dividend and a yield of 3.66%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 45.96%.

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.