Mount Yale Investment Advisors LLC boosted its stake in Royal Bank of Canada (NYSE:RY – Free Report) (TSE:RY) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,823 shares of the financial services provider’s stock after purchasing an additional 92 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Royal Bank of Canada were worth $619,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Royal Bank of Canada by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 55,695,544 shares of the financial services provider’s stock valued at $5,618,566,000 after acquiring an additional 964,898 shares during the last quarter. TD Asset Management Inc raised its position in Royal Bank of Canada by 21.7% in the fourth quarter. TD Asset Management Inc now owns 32,571,491 shares of the financial services provider’s stock valued at $3,310,010,000 after purchasing an additional 5,810,077 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of Royal Bank of Canada by 5.1% during the fourth quarter. Bank of Nova Scotia now owns 28,024,917 shares of the financial services provider’s stock valued at $2,834,219,000 after purchasing an additional 1,357,956 shares in the last quarter. National Bank of Canada FI grew its holdings 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 worth $2,141,681,000 after purchasing an additional 2,901,033 shares during the last quarter. Finally, FIL Ltd increased its stake in shares of Royal Bank of Canada by 1.8% in the fourth quarter. FIL Ltd now owns 18,790,164 shares of the financial services provider’s stock valued at $1,900,217,000 after buying an additional 333,333 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.
Royal Bank of Canada Trading Up 1.0 %
RY opened at $123.16 on Tuesday. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $124.46. The company has a fifty day moving average of $115.10 and a 200-day moving average of $107.36. The stock has a market cap of $174.28 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 2.00 and a beta of 0.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12.
Royal Bank of Canada Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be issued a $1.028 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.34%. Royal Bank of Canada’s payout ratio is currently 52.11%.
Analyst Ratings Changes
Several research firms recently commented on RY. Argus lifted their target price on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. BMO Capital Markets lifted their price target 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 downgraded 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 Royal Bank of Canada in a report on Tuesday, July 2nd. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.50.
View Our Latest Analysis on RY
Royal Bank of Canada 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.
Featured Articles
- Five stocks we like better than Royal Bank of Canada
- What to Know About Investing in Penny Stocks
- The Average 401k Balance by Age Explained
- Learn Technical Analysis Skills to Master the Stock Market
- 3 Uranium Stocks To Gain as Microsoft Goes Nuclear to Power AI
- What is a Special Dividend?
- Biotech Boom Ahead? Key Stocks and ETFs to Watch Now
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.