Nisa Investment Advisors LLC Has $54,000 Position in Royal Bank of Canada (NYSE:RY)

Nisa Investment Advisors LLC lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 293.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 508 shares of the financial services provider’s stock after buying an additional 379 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Royal Bank of Canada were worth $54,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Shell Asset Management Co. increased its position in Royal Bank of Canada by 3.8% during the 1st quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock worth $274,000 after buying an additional 100 shares during the period. Muirfield Wealth Advisors LLC increased its position in Royal Bank of Canada by 0.6% during the second quarter. Muirfield Wealth Advisors LLC now owns 16,437 shares of the financial services provider’s stock worth $1,749,000 after acquiring an additional 101 shares during the period. Hexagon Capital Partners LLC raised its stake in Royal Bank of Canada by 8.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,380 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 111 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in Royal Bank of Canada by 2.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,225 shares of the financial services provider’s stock valued at $527,000 after purchasing an additional 124 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Royal Bank of Canada by 0.8% in the 2nd quarter. Blue Trust Inc. now owns 15,639 shares of the financial services provider’s stock valued at $1,578,000 after purchasing an additional 124 shares during the period. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Jefferies Financial Group upgraded Royal Bank of Canada from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Argus lifted their price objective on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. BMO Capital Markets downgraded shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 31st. 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 began coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.00.

Royal Bank of Canada Trading Up 1.9 %

NYSE RY opened at $115.52 on Monday. The company has a market cap of $163.47 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.75 and a beta of 0.86. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $116.56. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average is $109.12 and its 200 day moving average is $103.82.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, May 30th. The financial services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. Royal Bank of Canada had a return on equity of 14.87% and a net margin of 12.12%. The firm had revenue of $10.43 billion for the quarter, compared to analyst estimates of $9.95 billion. As a group, sell-side analysts expect that Royal Bank of Canada will post 8.5 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th were given a $1.03 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a yield of 3.57%. The ex-dividend date was Thursday, July 25th. Royal Bank of Canada’s dividend payout ratio is 51.49%.

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.