Cerity Partners LLC Has $2.46 Million Holdings in Royal Bank of Canada (NYSE:RY)

Cerity Partners LLC increased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 146.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,368 shares of the financial services provider’s stock after purchasing an additional 14,476 shares during the quarter. Cerity Partners LLC’s holdings in Royal Bank of Canada were worth $2,464,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in Royal Bank of Canada during the third quarter worth $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Royal Bank of Canada during the third quarter worth $34,000. Money Concepts Capital Corp bought a new stake in Royal Bank of Canada during the fourth quarter worth $38,000. Cullen Frost Bankers Inc. bought a new stake in Royal Bank of Canada during the third quarter worth $44,000. Finally, Ancora Advisors LLC bought a new stake in Royal Bank of Canada during the fourth quarter worth $85,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on RY. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Barclays began coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They set an “equal weight” rating on the stock. Jefferies Financial Group began coverage on shares of Royal Bank of Canada in a research report on Thursday, February 22nd. They set a “hold” rating on the stock. Finally, BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $140.00 to $150.00 in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $137.67.

Royal Bank of Canada Price Performance

Shares of RY opened at $96.93 on Friday. The firm has a market capitalization of $137.13 billion, a PE ratio of 12.21, a PEG ratio of 1.67 and a beta of 0.86. The company’s 50-day moving average is $98.96 and its 200-day moving average is $94.13. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $103.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. The business had revenue of $9.98 billion for the quarter, compared to analyst estimates of $10.10 billion. Equities analysts forecast that Royal Bank of Canada will post 8.45 EPS for the current year.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be paid a dividend of $1.0207 per share. This represents a $4.08 dividend on an annualized basis and a yield of 4.21%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio is presently 37.66%.

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.