15,698 Shares in Royal Bank of Canada (NYSE:RY) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,698 shares of the financial services provider’s stock, valued at approximately $1,541,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC boosted its holdings in Royal Bank of Canada by 47.4% during the first quarter. Orion Portfolio Solutions LLC now owns 16,494 shares of the financial services provider’s stock worth $1,664,000 after buying an additional 5,302 shares in the last quarter. UniSuper Management Pty Ltd raised its position in Royal Bank of Canada by 91.3% during the first quarter. UniSuper Management Pty Ltd now owns 19,900 shares of the financial services provider’s stock worth $2,008,000 after acquiring an additional 9,500 shares during the period. Legal & General Group Plc raised its position in Royal Bank of Canada by 1.8% during the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after acquiring an additional 190,341 shares during the period. Maryland State Retirement & Pension System raised its position in Royal Bank of Canada by 53.0% during the first quarter. Maryland State Retirement & Pension System now owns 73,036 shares of the financial services provider’s stock worth $7,038,000 after acquiring an additional 25,299 shares during the period. Finally, Nexus Investment Management ULC raised its position in Royal Bank of Canada by 2.2% during the first quarter. Nexus Investment Management ULC now owns 509,004 shares of the financial services provider’s stock worth $51,376,000 after acquiring an additional 11,015 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group assumed 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 price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $122.27 on Thursday. The firm has a 50-day simple moving average of $117.80 and a 200-day simple moving average of $109.16. The stock has a market capitalization of $173.02 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.99 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 has a 52 week low of $77.90 and a 52 week high of $125.28.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. The business had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. On average, equities analysts predict that Royal Bank of Canada will post 8.97 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed 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. This represents a $4.11 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s payout ratio is currently 51.99%.

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.