Atria Investments Inc Has $231,000 Holdings in Royal Bank of Canada (NYSE:RY)

Atria Investments Inc boosted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,918 shares of the financial services provider’s stock after purchasing an additional 136 shares during the period. Atria Investments Inc’s holdings in Royal Bank of Canada were worth $231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RY. Financial Management Professionals Inc. boosted its position in shares of Royal Bank of Canada by 26.8% in the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 90 shares during the last quarter. Drive Wealth Management LLC lifted its position in shares of Royal Bank of Canada by 3.4% in the third quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after buying an additional 92 shares during the last quarter. Ballentine Partners LLC grew its stake in Royal Bank of Canada by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock valued at $519,000 after buying an additional 94 shares during the last quarter. Richardson Financial Services Inc. increased its position in Royal Bank of Canada by 45.7% during the 4th quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider’s stock worth $37,000 after buying an additional 96 shares during the period. Finally, DAVENPORT & Co LLC boosted its stake in shares of Royal Bank of Canada by 0.8% in the fourth quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider’s stock valued at $1,502,000 after buying an additional 101 shares during the period. Institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. 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 on the stock in a research note on Thursday, December 5th. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Down 0.2 %

RY stock opened at $112.45 on Wednesday. The stock has a market cap of $158.74 billion, a P/E ratio of 13.61, a P/E/G 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. The stock’s fifty day simple moving average is $118.26 and its two-hundred day simple moving average is $121.43. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders 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 3.65%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 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.