Wedbush Securities Inc. Has $1.15 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Wedbush Securities Inc. boosted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,546 shares of the financial services provider’s stock after purchasing an additional 807 shares during the period. Wedbush Securities Inc.’s holdings in Royal Bank of Canada were worth $1,150,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in shares of Royal Bank of Canada by 2.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 338,009 shares of the financial services provider’s stock valued at $40,733,000 after purchasing an additional 7,296 shares in the last quarter. Aviva PLC raised its holdings in Royal Bank of Canada by 14.9% in the 4th quarter. Aviva PLC now owns 852,311 shares of the financial services provider’s stock valued at $102,560,000 after buying an additional 110,754 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its position in Royal Bank of Canada by 81.9% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 26,720 shares of the financial services provider’s stock worth $3,220,000 after buying an additional 12,034 shares during the period. Wells Fargo & Company MN grew its holdings in Royal Bank of Canada by 14.0% during the 4th quarter. Wells Fargo & Company MN now owns 219,679 shares of the financial services provider’s stock worth $26,473,000 after acquiring an additional 26,905 shares during the last quarter. Finally, World Investment Advisors increased its position in Royal Bank of Canada by 36.1% in the 4th quarter. World Investment Advisors now owns 7,514 shares of the financial services provider’s stock valued at $906,000 after acquiring an additional 1,993 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the topic of a number of recent research reports. Cibc World Mkts upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday. CIBC upgraded Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $156.50.

Royal Bank of Canada Price Performance

RY stock opened at $111.13 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a market cap of $156.88 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.80 and a beta of 0.82. The company’s fifty day simple moving average is $116.60 and its 200 day simple moving average is $120.68. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is 45.96%.

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.