WealthTrak Capital Management LLC Invests $28,000 in Royal Bank of Canada (NYSE:RY)

WealthTrak Capital Management LLC purchased a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, Holdings Channel.com reports. The fund purchased 235 shares of the financial services provider’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dunhill Financial LLC acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at about $25,000. Larson Financial Group LLC purchased a new stake in Royal Bank of Canada in the third quarter valued at approximately $26,000. Roxbury Financial LLC acquired a new stake in shares of Royal Bank of Canada in the fourth quarter valued at approximately $29,000. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Royal Bank of Canada during the fourth quarter worth approximately $36,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Royal Bank of Canada in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

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

Royal Bank of Canada Stock Down 2.3 %

Shares of Royal Bank of Canada stock opened at $112.04 on Friday. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05. The company has a market cap of $158.17 billion, a P/E ratio of 13.56, a PEG ratio of 1.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a fifty day moving average of $117.43 and a two-hundred day moving average of $121.05.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.66%. Royal Bank of Canada’s payout ratio is currently 45.96%.

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.