1,738 Shares in Royal Bank of Canada (NYSE:RY) Acquired by Brighton Jones LLC

Brighton Jones LLC acquired a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,738 shares of the financial services provider’s stock, valued at approximately $217,000.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Royal Bank of Canada during the third quarter worth about $153,217,000. Private Advisor Group LLC lifted its holdings in shares of Royal Bank of Canada by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after acquiring an additional 95 shares during the period. Waldron Private Wealth LLC acquired a new stake in shares of Royal Bank of Canada during the 3rd quarter worth approximately $217,000. Eastern Bank bought a new position in Royal Bank of Canada in the third quarter valued at approximately $59,000. Finally, Signaturefd LLC raised its position in Royal Bank of Canada by 5.6% during the third quarter. Signaturefd LLC now owns 25,759 shares of the financial services provider’s stock valued at $3,213,000 after purchasing an additional 1,363 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RY has been the topic of several recent analyst reports. BMO Capital Markets lifted their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Finally, UBS Group began 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $122.46 on Friday. The stock has a 50-day moving average price of $121.75 and a two-hundred day moving average price of $111.23. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $126.96. The company has a market capitalization of $173.29 billion, a PE ratio of 15.19, a P/E/G ratio of 2.05 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The company had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Analysts expect that Royal Bank of Canada will post 8.91 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be issued 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 dividend yield of 3.36%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.99%.

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.