Mountain Pacific Investment Advisers LLC raised its stake in Royal Bank of Canada (NYSE:RY – Free Report) (TSE:RY) by 19.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,694 shares of the financial services provider’s stock after purchasing an additional 945 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Royal Bank of Canada were worth $710,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI increased its position in shares of Royal Bank of Canada by 16.7% during the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock valued at $2,141,681,000 after purchasing an additional 2,901,033 shares during the period. Capital World Investors increased its holdings in Royal Bank of Canada by 75.0% in the 1st quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider’s stock valued at $637,460,000 after buying an additional 2,708,534 shares during the period. Vanguard Group Inc. raised its stake in shares of Royal Bank of Canada by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 54,730,646 shares of the financial services provider’s stock valued at $5,534,910,000 after buying an additional 1,603,427 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Royal Bank of Canada by 40.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,039,171 shares of the financial services provider’s stock worth $508,739,000 after acquiring an additional 1,452,127 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Royal Bank of Canada by 3.9% during the 4th quarter. Wellington Management Group LLP now owns 11,006,207 shares of the financial services provider’s stock valued at $1,118,448,000 after acquiring an additional 415,293 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on RY. BMO Capital Markets upped their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. Finally, UBS Group initiated coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.50.
Royal Bank of Canada Stock Up 0.4 %
Shares of NYSE:RY opened at $122.27 on Thursday. The company has a 50 day moving average price of $118.01 and a two-hundred day moving average price of $109.25. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $173.02 billion, a PE ratio of 15.17, a PEG ratio of 1.99 and a beta of 0.86. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $125.28.
Royal Bank of Canada (NYSE:RY – Get Free Report) (TSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. The business had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Analysts forecast that Royal Bank of Canada will post 8.97 earnings per share for the current year.
Royal Bank of Canada Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be given a $1.028 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 annualized dividend and a dividend yield of 3.36%. Royal Bank of Canada’s dividend payout ratio is presently 51.99%.
About Royal Bank of Canada
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.
Featured Stories
- Five stocks we like better than Royal Bank of Canada
- What Is WallStreetBets and What Stocks Are They Targeting?
- Carnival Has Analysts Going Wild: Here’s Why
- ETF Screener: Uses and Step-by-Step Guide
- Top Income Stocks Offering Big Dividend Yields and Future Growth
- How to Read Stock Charts for Beginners
- At $43 is it Time to Take Profit with Palantir?
Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank of Canada (NYSE:RY – Free Report) (TSE:RY).
Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.