Cerity Partners LLC Trims Stake in Royal Bank of Canada (NYSE:RY)

Cerity Partners LLC lowered its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,036 shares of the financial services provider’s stock after selling 4,451 shares during the period. Cerity Partners LLC’s holdings in Royal Bank of Canada were worth $4,738,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Roxbury Financial LLC acquired a new position in Royal Bank of Canada during the fourth quarter worth $29,000. WealthTrak Capital Management LLC acquired a new position in shares of Royal Bank of Canada during the 4th quarter valued at about $28,000. Jackson Grant Investment Advisers Inc. acquired a new position in Royal Bank of Canada in the 4th quarter valued at about $36,000. Kieckhefer Group LLC acquired a new position in Royal Bank of Canada in the fourth quarter valued at approximately $36,000. Finally, Crews Bank & Trust purchased a new position in shares of Royal Bank of Canada during the 4th quarter worth $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $113.26 on Friday. The stock has a 50 day moving average of $115.13 and a two-hundred day moving average of $120.13. The stock has a market cap of $159.89 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.62%. Royal Bank of Canada’s dividend payout ratio is presently 45.96%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RY. Cibc World Mkts raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday, April 4th. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Two equities research 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 stock. According to data from MarketBeat, the stock currently 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.