Orion Portfolio Solutions LLC Raises Position in Royal Bank of Canada (NYSE:RY)

Orion Portfolio Solutions LLC lifted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,458 shares of the financial services provider’s stock after purchasing an additional 1,729 shares during the period. Orion Portfolio Solutions LLC’s holdings in Royal Bank of Canada were worth $2,345,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RY. Dunhill Financial LLC purchased a new position in shares of Royal Bank of Canada in the third quarter valued at about $25,000. Roxbury Financial LLC purchased a new stake in Royal Bank of Canada during the 4th quarter valued at approximately $29,000. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Royal Bank of Canada during the fourth quarter valued at approximately $36,000. Kieckhefer Group LLC purchased a new position in shares of Royal Bank of Canada in the fourth quarter worth $36,000. Finally, Crews Bank & Trust bought a new position in shares of Royal Bank of Canada during the fourth quarter worth $36,000. 45.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RY. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. BMO Capital Markets dropped their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with 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 stock has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Up 0.8 %

NYSE RY opened at $113.67 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 52 week low of $95.84 and a 52 week high of $128.05. The firm has a market capitalization of $160.47 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.80 and a beta of 0.88. The company has a fifty day moving average of $117.10 and a two-hundred day moving average of $120.88.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.61%. Royal Bank of Canada’s dividend payout ratio is 45.96%.

About Royal Bank of Canada

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.