Mount Yale Investment Advisors LLC Has $619,000 Stock Holdings in Royal Bank of Canada (NYSE:RY)

Mount Yale Investment Advisors LLC boosted its stake in Royal Bank of Canada (NYSE:RY) (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 (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. The firm had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. On average, sell-side analysts predict that Royal Bank of Canada will post 8.97 EPS for the current year.

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.

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.