Wealth Enhancement Advisory Services LLC Purchases 254 Shares of Royal Bank of Canada (NYSE:RY)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,103 shares of the financial services provider’s stock after purchasing an additional 254 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Royal Bank of Canada were worth $3,879,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Royal Bank of Canada by 75.8% in the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after buying an additional 7,702,585 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Royal Bank of Canada by 165.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock worth $361,532,000 after acquiring an additional 1,804,022 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Royal Bank of Canada in the third quarter worth about $153,217,000. Geode Capital Management LLC increased its stake in shares of Royal Bank of Canada by 9.3% during the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after purchasing an additional 541,760 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Royal Bank of Canada by 18.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock valued at $291,925,000 after purchasing an additional 359,719 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $118.72 on Tuesday. 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 firm has a market cap of $167.83 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87. The business has a 50-day simple moving average of $122.91 and a two-hundred day simple moving average of $119.12. Royal Bank of Canada has a fifty-two week low of $93.97 and a fifty-two week high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a dividend yield of 3.55%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s payout ratio is presently 49.76%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RY. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. BMO Capital Markets decreased their target price 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. Finally, TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.