CIBC Private Wealth Group LLC Has $1.98 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

CIBC Private Wealth Group LLC raised its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 144.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 16,295 shares of the financial services provider’s stock after acquiring an additional 9,627 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Royal Bank of Canada were worth $1,982,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. WealthTrak Capital Management LLC bought a new position in Royal Bank of Canada during the 4th quarter worth $28,000. Brown Brothers Harriman & Co. increased its stake in shares of Royal Bank of Canada by 6.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 18,436 shares of the financial services provider’s stock valued at $2,222,000 after buying an additional 1,160 shares during the period. Orion Portfolio Solutions LLC lifted its stake in shares of Royal Bank of Canada by 9.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,458 shares of the financial services provider’s stock worth $2,345,000 after acquiring an additional 1,729 shares during the period. Norges Bank bought a new stake in Royal Bank of Canada in the fourth quarter valued at approximately $2,425,519,000. Finally, Blair William & Co. IL increased its position in Royal Bank of Canada by 0.6% during the 4th quarter. Blair William & Co. IL now owns 22,150 shares of the financial services provider’s stock valued at $2,669,000 after purchasing an additional 136 shares during the period. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 0.8 %

RY opened at $114.56 on Thursday. The company has a fifty day moving average price of $116.97 and a two-hundred day moving average price of $120.83. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The company has a market cap of $161.72 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. 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 company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Finally, BMO Capital Markets lowered their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.50.

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.