Schechter Investment Advisors LLC Has $452,000 Stock Holdings in Royal Bank of Canada (NYSE:RY)

Schechter Investment Advisors LLC increased its position in Royal Bank of Canada (NYSE:RYFree Report) (TSE:RY) by 11.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,467 shares of the financial services provider’s stock after purchasing an additional 447 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Royal Bank of Canada were worth $452,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at about $26,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Royal Bank of Canada in the 3rd quarter valued at about $34,000. Money Concepts Capital Corp bought a new position in Royal Bank of Canada in the 4th quarter valued at about $38,000. Cullen Frost Bankers Inc. bought a new position in Royal Bank of Canada in the 3rd quarter valued at about $44,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in Royal Bank of Canada in the 3rd quarter valued at about $66,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RY has been the topic of several recent research reports. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Barclays began coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Jefferies Financial Group began coverage on shares of Royal Bank of Canada in a research report on Thursday, February 22nd. They set a “hold” rating on the stock. Finally, Bank of America raised shares of Royal Bank of Canada from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $131.50.

Get Our Latest Stock Analysis on Royal Bank of Canada

Royal Bank of Canada Stock Up 0.5 %

Royal Bank of Canada stock opened at $100.88 on Friday. Royal Bank of Canada has a 1-year low of $77.90 and a 1-year high of $102.07. The firm has a market capitalization of $142.71 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 1.72 and a beta of 0.86. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a 50 day simple moving average of $98.43 and a 200 day simple moving average of $93.05.

Royal Bank of Canada (NYSE:RYGet Free Report) (TSE:RY) last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.05. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. The business had revenue of $9.98 billion during the quarter, compared to analyst estimates of $10.10 billion. On average, analysts predict that Royal Bank of Canada will post 8.5 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a $1.0207 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 4.05%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s payout ratio is currently 37.66%.

About Royal Bank of Canada

(Free Report)

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.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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