Robertson Stephens Wealth Management LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 3,392 shares of the financial services provider’s stock, valued at approximately $237,000.

A number of other large investors also recently bought and sold shares of RY. Davis Rea LTD. grew its stake in Royal Bank of Canada by 3.0% in the third quarter. Davis Rea LTD. now owns 69,384 shares of the financial services provider’s stock valued at $4,868,000 after acquiring an additional 2,038 shares during the period. Prospera Financial Services Inc grew its position in Royal Bank of Canada by 8.4% in the 2nd quarter. Prospera Financial Services Inc now owns 5,422 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 418 shares during the period. M&T Bank Corp increased its stake in Royal Bank of Canada by 15.9% during the 2nd quarter. M&T Bank Corp now owns 48,954 shares of the financial services provider’s stock valued at $3,320,000 after purchasing an additional 6,706 shares in the last quarter. SG Americas Securities LLC raised its holdings in Royal Bank of Canada by 70.6% during the second quarter. SG Americas Securities LLC now owns 4,578 shares of the financial services provider’s stock worth $349,000 after buying an additional 1,894 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Royal Bank of Canada by 2.9% in the second quarter. HighTower Advisors LLC now owns 90,949 shares of the financial services provider’s stock valued at $6,154,000 after buying an additional 2,531 shares in the last quarter. Institutional investors and hedge funds own 40.16% of the company’s stock.

RY has been the topic of several recent research reports. Zacks Investment Research raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Friday. Canaccord Genuity raised their target price on Royal Bank of Canada from $95.50 to $104.50 and gave the company a “hold” rating in a report on Thursday, August 27th. ValuEngine upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Thursday, November 5th. Veritas Investment Research upgraded Royal Bank of Canada from a “sell” rating to a “buy” rating in a research note on Thursday, October 29th. Finally, Fundamental Research began coverage on shares of Royal Bank of Canada in a research note on Wednesday, September 2nd. They issued a “hold” rating and a $89.93 target price for the company. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $102.29.

Shares of NYSE RY opened at $79.74 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market cap of $113.54 billion, a P/E ratio of 13.70, a P/E/G ratio of 1.84 and a beta of 0.94. Royal Bank of Canada has a 52 week low of $49.55 and a 52 week high of $82.74. The business has a 50-day simple moving average of $73.59 and a two-hundred day simple moving average of $70.20.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, August 26th. The financial services provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.37. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $8.72 billion. Royal Bank of Canada had a net margin of 17.78% and a return on equity of 14.86%. Equities research analysts anticipate that Royal Bank of Canada will post 5.68 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be paid a $0.805 dividend. The ex-dividend date is Friday, October 23rd. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.78. This represents a $3.22 annualized dividend and a yield of 4.04%. Royal Bank of Canada’s dividend payout ratio is currently 48.43%.

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 check and savings accounts, credit cards, mortgages, loans, investment products, payments, international trade, and business advice services. This segment offers financial products and services through branches, automated teller machines, and mobile sales network.

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

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