Royal Bank of Canada (NYSE:RY) Shares Bought by Acadian Asset Management LLC

Acadian Asset Management LLC grew its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 32.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 55,998 shares of the financial services provider’s stock after buying an additional 13,779 shares during the period. Acadian Asset Management LLC’s holdings in Royal Bank of Canada were worth $5,956,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Sivia Capital Partners LLC lifted its holdings in shares of Royal Bank of Canada by 22.7% during the second quarter. Sivia Capital Partners LLC now owns 2,943 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 544 shares during the period. Savant Capital LLC lifted its stake in Royal Bank of Canada by 173.3% during the 2nd quarter. Savant Capital LLC now owns 6,277 shares of the financial services provider’s stock valued at $668,000 after acquiring an additional 3,980 shares during the period. Private Advisor Group LLC lifted its stake in Royal Bank of Canada by 1.8% during the 2nd quarter. Private Advisor Group LLC now owns 6,065 shares of the financial services provider’s stock valued at $645,000 after acquiring an additional 109 shares during the period. Addison Advisors LLC boosted its holdings in shares of Royal Bank of Canada by 62.5% in the 2nd quarter. Addison Advisors LLC now owns 863 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 332 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Royal Bank of Canada by 16.7% in 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 acquiring an additional 2,901,033 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RY. UBS Group started coverage on shares of Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating for the company. BMO Capital Markets upped their target price on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. Argus boosted their price target on Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Scotiabank upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Trading Up 0.8 %

RY stock opened at $123.23 on Thursday. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $123.54. 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 cap of $174.38 billion, a P/E ratio of 15.29, a PEG ratio of 1.97 and a beta of 0.86. The company’s 50-day simple moving average is $113.00 and its 200-day simple moving average is $105.87.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be given a dividend of $1.028 per share. 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 dividend payout ratio is currently 51.49%.

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.