Franklin Street Advisors Inc. NC raised its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 232.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,118 shares of the company’s stock after buying an additional 58,810 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Royal Bank Of Canada were worth $5,212,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RY. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Royal Bank Of Canada by 23.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,995 shares of the company’s stock worth $413,000 after buying an additional 1,336 shares in the last quarter. Cohen & Steers Inc. purchased a new stake in shares of Royal Bank Of Canada during the second quarter worth about $1,152,000. Hillsdale Investment Management Inc. boosted its stake in shares of Royal Bank Of Canada by 20.1% in the second quarter. Hillsdale Investment Management Inc. now owns 126,070 shares of the company’s stock worth $7,441,000 after buying an additional 21,115 shares during the period. Stifel Financial Corp boosted its stake in shares of Royal Bank Of Canada by 0.6% in the second quarter. Stifel Financial Corp now owns 28,603 shares of the company’s stock worth $1,690,000 after buying an additional 171 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Royal Bank Of Canada by 2.4% in the second quarter. Legal & General Group Plc now owns 6,789,577 shares of the company’s stock worth $399,115,000 after buying an additional 159,728 shares during the period. 45.08% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Royal Bank Of Canada (NYSE:RY)

Royal Bank Of Canada (NYSE:RY) traded up 0.03% during trading on Wednesday, reaching $64.01. 896,313 shares of the company’s stock traded hands. Royal Bank Of Canada has a one year low of $44.37 and a one year high of $64.31. The firm has a market capitalization of $94.98 billion, a PE ratio of 12.41 and a beta of 1.19. The company has a 50-day moving average price of $62.49 and a 200 day moving average price of $61.35.

Royal Bank Of Canada (NYSE:RY) last posted its earnings results on Wednesday, August 24th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.39. Royal Bank Of Canada had a net margin of 22.91% and a return on equity of 16.36%. The firm earned $10.26 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the previous year, the business posted $1.66 EPS. On average, analysts anticipate that Royal Bank Of Canada will post $5.07 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 24th. Investors of record on Wednesday, October 26th will be paid a $0.6449 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $0.62. This represents a $2.58 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Monday, October 24th. Royal Bank Of Canada’s payout ratio is currently 50.60%.

A number of analysts have recently issued reports on the stock. Credit Suisse Group AG reissued an “outperform” rating and issued a $100.00 price objective (up from $96.00) on shares of Royal Bank Of Canada in a research note on Friday, August 26th. TD Securities reissued a “hold” rating and issued a $86.00 price objective (up from $81.00) on shares of Royal Bank Of Canada in a research note on Friday, August 26th. Scotiabank reissued an “outperform” rating and issued a $86.00 price objective (up from $85.00) on shares of Royal Bank Of Canada in a research note on Friday, August 26th. Citigroup Inc. increased their price objective on shares of Royal Bank Of Canada from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Finally, Zacks Investment Research raised shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating and set a $70.00 price objective for the company in a research note on Friday, August 26th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $83.70.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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