DRW Securities LLC Has $339,000 Stock Position in Royal Bank of Canada (NYSE:RY)

DRW Securities LLC lessened its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 17.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,809 shares of the financial services provider’s stock after selling 574 shares during the period. DRW Securities LLC’s holdings in Royal Bank of Canada were worth $339,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC acquired a new stake in shares of Royal Bank of Canada in the fourth quarter valued at about $28,000. Roxbury Financial LLC bought a new position in shares of Royal Bank of Canada in the 4th quarter valued at $29,000. Kieckhefer Group LLC acquired a new position in shares of Royal Bank of Canada during the fourth quarter worth $36,000. Crews Bank & Trust acquired a new position in Royal Bank of Canada in the 4th quarter valued at approximately $36,000. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in Royal Bank of Canada during the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented 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. CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Friday, April 4th. Finally, Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Down 3.4 %

Shares of Royal Bank of Canada stock opened at $109.91 on Friday. 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 firm’s 50 day simple moving average is $115.24 and its two-hundred day simple moving average is $120.20. The firm has a market capitalization of $155.16 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.80 and a beta of 0.82. 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 company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.73%. Royal Bank of Canada’s dividend payout ratio is presently 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.