Avantax Advisory Services Inc. Purchases 415 Shares of Royal Bank of Canada (NYSE:RY)

Avantax Advisory Services Inc. lifted its position in Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,675 shares of the financial services provider’s stock after acquiring an additional 415 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Royal Bank of Canada were worth $1,051,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its holdings in shares of Royal Bank of Canada by 185.6% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 277 shares of the financial services provider’s stock worth $27,000 after buying an additional 180 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Royal Bank of Canada in the 2nd quarter worth about $29,000. Financial Management Professionals Inc. lifted its holdings in Royal Bank of Canada by 64.9% during the third quarter. Financial Management Professionals Inc. now owns 343 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 135 shares during the last quarter. Venture Visionary Partners LLC purchased a new stake in Royal Bank of Canada during the second quarter valued at about $33,000. Finally, Win Advisors Inc. lifted its holdings in Royal Bank of Canada by 70.3% during the second quarter. Win Advisors Inc. now owns 356 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 41.19% of the company’s stock.

Royal Bank of Canada Stock Up 0.8 %

RY stock opened at $100.68 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $97.36 and its 200 day moving average is $95.48. The stock has a market cap of $139.52 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.77 and a beta of 0.84. Royal Bank of Canada has a 1-year low of $83.63 and a 1-year high of $116.84.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last posted its quarterly earnings data on Wednesday, November 30th. The financial services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.07. The company had revenue of $9.44 billion for the quarter. Royal Bank of Canada had a net margin of 23.66% and a return on equity of 16.33%. Sell-side analysts predict 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. Investors of record on Thursday, January 26th will be given a $0.9832 dividend. This represents a $3.93 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Wednesday, January 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is 43.02%.

Analysts Set New Price Targets

Several equities research analysts have commented on RY shares. Desjardins upped their price objective on shares of Royal Bank of Canada from C$140.00 to C$145.00 in a report on Thursday, December 1st. Canaccord Genuity Group upped their price objective on shares of 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. National Bank Financial dropped their price objective on shares of Royal Bank of Canada from C$148.00 to C$147.00 in a report on Thursday, December 1st. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Thursday, December 1st. Finally, Keefe, Bruyette & Woods upgraded Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 1st. Five 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, the stock has an average rating of “Moderate Buy” and an average price target of $140.09.

Royal Bank of Canada Company 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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