Veriti Management LLC Purchases 665 Shares of Royal Bank of Canada (NYSE:RY)

Veriti Management LLC grew its position in Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 5.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,472 shares of the financial services provider’s stock after purchasing an additional 665 shares during the quarter. Veriti Management LLC’s holdings in Royal Bank of Canada were worth $1,486,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. MML Investors Services LLC increased its position in Royal Bank of Canada by 4.3% during the third quarter. MML Investors Services LLC now owns 22,550 shares of the financial services provider’s stock worth $2,243,000 after acquiring an additional 934 shares during the period. Verition Fund Management LLC bought a new position in Royal Bank of Canada during the third quarter worth $248,000. Corient Capital Partners LLC increased its position in Royal Bank of Canada by 21.6% during the third quarter. Corient Capital Partners LLC now owns 3,795 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 674 shares during the period. EP Wealth Advisors LLC increased its position in Royal Bank of Canada by 1,281.0% during the third quarter. EP Wealth Advisors LLC now owns 28,793 shares of the financial services provider’s stock worth $207,000 after acquiring an additional 26,708 shares during the period. Finally, Kozak & Associates Inc. bought a new position in Royal Bank of Canada during the third quarter worth $78,000. 41.50% of the stock is currently owned by institutional investors.

RY has been the topic of a number of research reports. Argus boosted their target price on shares of Royal Bank of Canada from $121.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 6th. Credit Suisse Group dropped their target price on shares of Royal Bank of Canada from C$153.00 to C$152.00 in a research report on Friday, May 27th. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Saturday, June 11th. TD Securities lowered their price target on shares of Royal Bank of Canada from C$150.00 to C$145.00 in a report on Friday, May 27th. Finally, Scotiabank lowered their price target on shares of Royal Bank of Canada from C$150.00 to C$147.00 in a report on Friday, May 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.84.

Shares of NYSE:RY opened at $97.83 on Wednesday. Royal Bank of Canada has a 52 week low of $94.94 and a 52 week high of $119.41. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.88 and a current ratio of 0.88. The company’s fifty day moving average is $101.95 and its 200-day moving average is $107.15. The company has a market capitalization of $137.31 billion, a PE ratio of 10.70, a P/E/G ratio of 2.10 and a beta of 0.90.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Tuesday, July 26th will be paid a $0.995 dividend. This represents a $3.98 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Monday, July 25th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.94. Royal Bank of Canada’s payout ratio is currently 42.01%.

About Royal Bank of Canada (Get Rating)

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

Further Reading

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

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