Sei Investments Co. Has $242,000 Stock Position in Royal Bank of Canada (NYSE:RY)

Sei Investments Co. raised its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,007 shares of the financial services provider’s stock after purchasing an additional 124 shares during the quarter. Sei Investments Co.’s holdings in Royal Bank of Canada were worth $242,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Roxbury Financial LLC bought a new position in shares of Royal Bank of Canada during the 4th quarter valued at $29,000. Kieckhefer Group LLC acquired a new stake in shares of Royal Bank of Canada in the fourth quarter worth about $36,000. Crews Bank & Trust bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $36,000. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Royal Bank of Canada during the 4th quarter valued at about $36,000. Finally, Richardson Financial Services Inc. increased its holdings in shares of Royal Bank of Canada by 45.7% during the 4th quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 96 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Trading Up 3.0 %

Shares of Royal Bank of Canada stock opened at $113.26 on Friday. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05. The company’s fifty day simple moving average is $115.13 and its 200-day simple moving average is $120.13. The company has a market cap of $159.89 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.80 and a beta of 0.82. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Cuts Dividend

The business 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. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.62%. Royal Bank of Canada’s payout ratio is 45.96%.

Wall Street Analyst Weigh In

RY has been the subject of a number of recent analyst reports. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a 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 report on Friday, April 4th. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $156.50.

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.