Wealth Enhancement Advisory Services LLC Raises Holdings in Royal Bank of Canada (NYSE:RY)

Wealth Enhancement Advisory Services LLC raised its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.7% during the third quarter, HoldingsChannel reports. The firm owned 30,849 shares of the financial services provider’s stock after purchasing an additional 1,663 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Royal Bank of Canada were worth $3,848,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. National Bank of Canada FI grew its position 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 valued at $2,141,681,000 after purchasing an additional 2,901,033 shares in the last quarter. Capital World Investors grew its holdings in Royal Bank of Canada by 75.0% in the 1st quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider’s stock valued at $637,460,000 after buying an additional 2,708,534 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Royal Bank of Canada by 40.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,039,171 shares of the financial services provider’s stock worth $508,739,000 after acquiring an additional 1,452,127 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Royal Bank of Canada during the 3rd quarter worth $153,217,000. Finally, Vanguard Group Inc. boosted its position in shares of Royal Bank of Canada by 1.8% during 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. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the subject of several recent analyst reports. 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. BMO Capital Markets raised 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Trading Down 2.2 %

NYSE RY opened at $120.91 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $170.93 billion, a P/E ratio of 14.62, a PEG ratio of 2.00 and a beta of 0.86. The firm’s 50-day moving average is $122.56 and its two-hundred day moving average is $111.79. Royal Bank of Canada has a 12 month low of $79.12 and a 12 month high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data 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. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The firm had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $10.40 billion. On average, sell-side analysts anticipate that Royal Bank of Canada will post 8.91 earnings per share for the current 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 issued a $1.028 dividend. The ex-dividend date is Thursday, October 24th. This represents a $4.11 annualized dividend and a dividend yield of 3.40%. Royal Bank of Canada’s dividend payout ratio is presently 50.67%.

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.