Royal Bank Of Canada $RY Shares Acquired by Ethic Inc.

Ethic Inc. grew its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 24.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,080 shares of the financial services provider’s stock after purchasing an additional 6,111 shares during the quarter. Ethic Inc.’s holdings in Royal Bank Of Canada were worth $6,110,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RY. Bank of Nova Scotia purchased a new stake in shares of Royal Bank Of Canada during the second quarter worth $2,549,157,000. The Manufacturers Life Insurance Company purchased a new position in Royal Bank Of Canada in the second quarter valued at $2,296,717,000. Canada Pension Plan Investment Board purchased a new position in Royal Bank Of Canada in the second quarter valued at $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Royal Bank Of Canada during the 2nd quarter worth $2,260,820,000. Finally, Legal & General Group Plc acquired a new position in Royal Bank Of Canada during the 2nd quarter worth $1,645,758,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $204.01 on Tuesday. The company has a market cap of $282.36 billion, a P/E ratio of 18.07, a PEG ratio of 1.74 and a beta of 0.79. The firm has a fifty day moving average price of $201.45 and a 200 day moving average price of $190.20. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 12 month low of $144.56 and a 12 month high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.18. The company had revenue of $13.22 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. Sell-side analysts predict that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be issued a C$1.76 dividend. The ex-dividend date is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio is presently 43.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Royal Bank Of Canada in a research note on Tuesday, October 27th. Finally, Keefe, Bruyette & Woods began coverage on shares of Royal Bank Of Canada in a research note on Friday, August 21st. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Profile

Royal Bank of Canada (RBC) is a diversified financial services company founded in 1864 and headquartered in Toronto, Ontario. It provides personal and commercial banking, wealth management, insurance, investor and treasury services, and capital markets services to individuals, businesses, institutions, and governments.

In Canada, RBC offers banking products such as deposit accounts, loans, mortgages, credit cards, and financial advice. Its wealth management and insurance businesses provide investment, advisory, and protection services, while its capital markets operations serve corporate and institutional clients.

RBC serves customers primarily in Canada and the United States, with additional operations and clients in international markets.