Addison Advisors LLC Has $92,000 Holdings in Royal Bank of Canada (NYSE:RY)

Addison Advisors LLC lifted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 62.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 863 shares of the financial services provider’s stock after buying an additional 332 shares during the period. Addison Advisors LLC’s holdings in Royal Bank of Canada were worth $92,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Ridgewood Investments LLC bought a new stake in Royal Bank of Canada during the 2nd quarter worth approximately $27,000. Mather Group LLC. bought a new stake in Royal Bank of Canada during the 1st quarter worth approximately $49,000. Nisa Investment Advisors LLC grew its position in Royal Bank of Canada by 293.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 379 shares during the last quarter. Heritage Wealth Advisors bought a new stake in Royal Bank of Canada during the 4th quarter worth approximately $61,000. Finally, EverSource Wealth Advisors LLC grew its position in Royal Bank of Canada by 192.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 716 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 471 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Down 0.5 %

NYSE:RY opened at $120.93 on Friday. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $122.91. 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 firm has a market capitalization of $171.13 billion, a P/E ratio of 15.00, a P/E/G ratio of 1.98 and a beta of 0.86. The stock’s fifty day simple moving average is $112.08 and its 200-day simple moving average is $105.30.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a $1.028 dividend. The ex-dividend date is Thursday, October 24th. This represents a $4.11 annualized dividend and a dividend yield of 3.40%. Royal Bank of Canada’s dividend payout ratio is currently 50.99%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RY shares. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Jefferies Financial Group upgraded Royal Bank of Canada from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Scotiabank upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. UBS Group began coverage on Royal Bank of Canada in a research report on Tuesday, July 2nd. They issued a “buy” rating on the stock. Finally, Argus increased their price objective on Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $142.50.

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.