Brinker Capital Investments LLC Boosts Position in Royal Bank of Canada (NYSE:RY)

Brinker Capital Investments LLC boosted its position in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,602 shares of the financial services provider’s stock after buying an additional 1,097 shares during the period. Brinker Capital Investments LLC’s holdings in Royal Bank of Canada were worth $1,135,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in Royal Bank of Canada by 4.2% during the second quarter. Bank of Montreal Can now owns 65,946,059 shares of the financial services provider’s stock worth $6,817,816,000 after buying an additional 2,687,026 shares during the period. FMR LLC increased its position in Royal Bank of Canada by 2.2% during the second quarter. FMR LLC now owns 15,905,049 shares of the financial services provider’s stock worth $1,540,091,000 after buying an additional 336,653 shares during the period. Toronto Dominion Bank increased its position in Royal Bank of Canada by 6.9% during the second quarter. Toronto Dominion Bank now owns 14,374,678 shares of the financial services provider’s stock worth $1,394,591,000 after buying an additional 924,089 shares during the period. Legal & General Group Plc increased its position in Royal Bank of Canada by 10.3% during the second quarter. Legal & General Group Plc now owns 8,400,941 shares of the financial services provider’s stock worth $811,689,000 after buying an additional 782,842 shares during the period. Finally, Scotia Capital Inc. increased its holdings in shares of Royal Bank of Canada by 2.4% in the second quarter. Scotia Capital Inc. now owns 7,891,351 shares of the financial services provider’s stock valued at $763,909,000 after purchasing an additional 184,999 shares during the period. Institutional investors and hedge funds own 41.19% of the company’s stock.

Royal Bank of Canada Stock Up 0.8 %

RY opened at $100.68 on Friday. The business’s fifty day moving average is $97.36 and its two-hundred day moving average is $95.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $139.52 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.77 and a beta of 0.84. Royal Bank of Canada has a one year low of $83.63 and a one year high of $116.84.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last posted its earnings results on Wednesday, November 30th. The financial services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.07. The company had revenue of $9.44 billion for the quarter. Royal Bank of Canada had a return on equity of 16.33% and a net margin of 23.66%. Analysts anticipate that Royal Bank of Canada will post 8.63 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 24th. Stockholders of record on Thursday, January 26th will be given a $0.9832 dividend. The ex-dividend date of this dividend is Wednesday, January 25th. This represents a $3.93 annualized dividend and a dividend yield of 3.91%. Royal Bank of Canada’s dividend payout ratio is currently 43.02%.

Analyst Upgrades and Downgrades

RY has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a report on Thursday, December 1st. Bank of America raised Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a report on Monday, December 12th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Thursday, December 1st. Canaccord Genuity Group boosted their target price on Royal Bank of Canada from C$131.00 to C$136.00 and gave the company a “buy” rating in a report on Thursday, December 1st. Finally, National Bank Financial dropped their price objective on Royal Bank of Canada from C$148.00 to C$147.00 in a report on Thursday, December 1st. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus price target of $140.09.

Royal Bank of Canada Profile

(Get Rating)

Royal Bank of Canada operates as a diversified financial service company. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury, and Capital Markets. The Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions, as well as indirect lending, including auto financing; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

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

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