2,763 Shares of Royal Bank Of Canada $RY Purchased by M Holdings Securities Inc.

M Holdings Securities Inc. purchased a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 2,763 shares of the financial services provider’s stock, valued at approximately $564,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Heritage Family Offices LLP purchased a new stake in Royal Bank Of Canada in the 3rd quarter valued at approximately $25,000. BOK Financial Private Wealth Inc. acquired a new position in Royal Bank Of Canada during the 2nd quarter worth approximately $28,000. Highland Investment Advisors LLC purchased a new position in shares of Royal Bank Of Canada during the 2nd quarter worth approximately $31,000. Bell Investment Advisors Inc purchased a new position in shares of Royal Bank Of Canada during the 2nd quarter worth approximately $32,000. Finally, Continuum Advisory LLC purchased a new position in shares of Royal Bank Of Canada during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RY. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Royal Bank Of Canada in a report on Tuesday, October 27th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 28th. Keefe, Bruyette & Woods began coverage on Royal Bank Of Canada in a research report on Friday, August 21st. They issued a “market perform” rating for the company. Finally, Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and a consensus target price of $227.00.

Royal Bank Of Canada Stock Down 0.8%

RY stock opened at $202.56 on Wednesday. The company has a market cap of $280.35 billion, a P/E ratio of 17.59, a P/E/G ratio of 1.69 and a beta of 0.79. Royal Bank Of Canada has a 52 week low of $144.56 and a 52 week high of $218.57. The company’s 50-day moving average price is $201.41 and its 200 day moving average price is $190.37. 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 (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. The company had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.98 billion. On average, research analysts expect that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Announces Dividend

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

Royal Bank Of Canada Company 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.