WealthTrak Capital Management LLC Makes New $28,000 Investment in Royal Bank of Canada (NYSE:RY)

WealthTrak Capital Management LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 235 shares of the financial services provider’s stock, valued at approximately $28,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cerity Partners LLC lifted its holdings in shares of Royal Bank of Canada by 24.6% in the 3rd quarter. Cerity Partners LLC now owns 43,487 shares of the financial services provider’s stock worth $5,424,000 after acquiring an additional 8,576 shares during the last quarter. Kingsview Wealth Management LLC raised its position in 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 purchasing an additional 127 shares during the period. Algert Global LLC acquired a new position in Royal Bank of Canada during the third quarter worth $706,000. Larson Financial Group LLC purchased a new position in shares of Royal Bank of Canada during the third quarter worth $26,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Royal Bank of Canada by 38.7% in the third quarter. BNP Paribas Financial Markets now owns 1,276 shares of the financial services provider’s stock valued at $159,000 after buying an additional 356 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Shares of RY opened at $112.04 on Friday. 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 capitalization of $158.17 billion, a PE ratio of 13.56, a PEG ratio of 1.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50-day simple moving average of $117.43 and a 200-day simple moving average of $121.05.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.66%. Royal Bank of Canada’s dividend payout ratio is currently 45.96%.

Analyst Upgrades and Downgrades

RY has been the topic of several research reports. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Finally, BMO Capital Markets dropped their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Three 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate 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.