Advisors Asset Management Inc. Buys 461 Shares of Royal Bank of Canada (NYSE:RY)

Advisors Asset Management Inc. increased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,743 shares of the financial services provider’s stock after buying an additional 461 shares during the quarter. Advisors Asset Management Inc.’s holdings in Royal Bank of Canada were worth $467,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RY. National Bank of Canada FI grew its holdings in 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 buying an additional 2,901,033 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Royal Bank of Canada in the third quarter worth $153,217,000. MUFG Securities EMEA plc purchased a new position in Royal Bank of Canada in the second quarter worth $29,254,000. The Manufacturers Life Insurance Company boosted its position in Royal Bank of Canada by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock worth $1,289,274,000 after purchasing an additional 256,023 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Royal Bank of Canada by 1.8% in 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 purchasing an additional 190,341 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RY shares. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, BMO Capital Markets boosted their price objective on 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Stock Up 0.9 %

Shares of NYSE RY opened at $125.27 on Thursday. Royal Bank of Canada has a one year low of $85.02 and a one year high of $126.96. 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 business’s fifty day moving average price is $123.49 and its 200-day moving average price is $115.11. The stock has a market capitalization of $177.09 billion, a PE ratio of 15.15, a P/E/G ratio of 1.92 and a beta of 0.86.

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 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. On average, equities research analysts anticipate that Royal Bank of Canada will post 8.37 EPS for the current year.

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.