Transamerica Financial Advisors Inc. Has $166,000 Stake in Royal Bank of Canada (NYSE:RY)

Transamerica Financial Advisors Inc. lowered its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,378 shares of the financial services provider’s stock after selling 104 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Royal Bank of Canada were worth $166,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. WealthTrak Capital Management LLC acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth approximately $28,000. Brown Brothers Harriman & Co. lifted its position in Royal Bank of Canada by 6.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 18,436 shares of the financial services provider’s stock worth $2,222,000 after buying an additional 1,160 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Royal Bank of Canada by 9.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 19,458 shares of the financial services provider’s stock valued at $2,345,000 after buying an additional 1,729 shares during the period. Norges Bank purchased a new position in shares of Royal Bank of Canada during the 4th quarter valued at $2,425,519,000. Finally, Blair William & Co. IL increased its stake in shares of Royal Bank of Canada by 0.6% in the fourth quarter. Blair William & Co. IL now owns 22,150 shares of the financial services provider’s stock worth $2,669,000 after acquiring an additional 136 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Shares of NYSE RY opened at $112.04 on Friday. The business’s 50-day simple moving average is $117.43 and its 200-day simple moving average is $121.04. Royal Bank of Canada has a 52 week low of $95.84 and a 52 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 firm has a market cap of $158.17 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The company 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 $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.96%.

Wall Street Analyst Weigh In

A number of brokerages have commented on RY. BMO Capital Markets lowered their target price on 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. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

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.