3,944 Shares in Royal Bank of Canada (NYSE:RY) Purchased by Headlands Technologies LLC

Headlands Technologies LLC purchased a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,944 shares of the financial services provider’s stock, valued at approximately $420,000.

A number of other hedge funds also recently modified their holdings of RY. Ridgewood Investments LLC acquired a new position in shares of Royal Bank of Canada in the second quarter valued at $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Royal Bank of Canada in the 2nd quarter valued at $33,000. Mather Group LLC. acquired a new position in shares of Royal Bank of Canada in the 1st quarter valued at $49,000. Nisa Investment Advisors LLC lifted its holdings in shares of 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 period. Finally, Heritage Wealth Advisors acquired a new stake in shares of Royal Bank of Canada during the 4th quarter valued at about $61,000. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on RY. Scotiabank upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. BMO Capital Markets upped their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Argus increased their price objective on Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, UBS Group assumed coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Trading Up 0.6 %

Shares of RY opened at $123.99 on Friday. The stock has a fifty day moving average price of $113.30 and a two-hundred day moving average price of $105.99. 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 cap of $175.45 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.97 and a beta of 0.86. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $124.00.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be given a dividend of $1.028 per share. The ex-dividend date is Thursday, October 24th. This represents a $4.11 annualized dividend and a yield of 3.32%. Royal Bank of Canada’s dividend payout ratio (DPR) 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.