Aviso Financial Inc. Has $25.36 Million Position in Royal Bank of Canada (NYSE:RY)

Aviso Financial Inc. grew its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 210,389 shares of the financial services provider’s stock after purchasing an additional 7,629 shares during the period. Royal Bank of Canada comprises approximately 1.3% of Aviso Financial Inc.’s investment portfolio, making the stock its 24th largest position. Aviso Financial Inc.’s holdings in Royal Bank of Canada were worth $25,361,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC bought a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at $26,000. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada in the 4th quarter valued at $29,000. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Royal Bank of Canada in the 4th quarter valued at $36,000. Finally, Kieckhefer Group LLC bought a new stake in Royal Bank of Canada during the 4th quarter valued at $36,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on RY. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, BMO Capital Markets decreased their price objective on shares of 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Performance

NYSE:RY opened at $108.88 on Friday. The firm has a market cap of $153.99 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. 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 business has a 50 day moving average price of $118.79 and a 200-day moving average price of $121.51.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 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.