Commonwealth Equity Services LLC Buys 1,885 Shares of Royal Bank of Canada (NYSE:RY)

Commonwealth Equity Services LLC raised its stake in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,814 shares of the financial services provider’s stock after buying an additional 1,885 shares during the period. Commonwealth Equity Services LLC’s holdings in Royal Bank of Canada were worth $9,683,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. AdvisorNet Financial Inc raised its holdings in Royal Bank of Canada by 5.0% during the first quarter. AdvisorNet Financial Inc now owns 1,974 shares of the financial services provider’s stock valued at $218,000 after buying an additional 94 shares in the last quarter. Total Clarity Wealth Management Inc. raised its holdings in Royal Bank of Canada by 2.1% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,780 shares of the financial services provider’s stock valued at $507,000 after buying an additional 100 shares in the last quarter. Tilia Fiduciary Partners Inc. raised its holdings in Royal Bank of Canada by 10.1% during the first quarter. Tilia Fiduciary Partners Inc. now owns 1,089 shares of the financial services provider’s stock valued at $120,000 after buying an additional 100 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in Royal Bank of Canada by 15.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 751 shares of the financial services provider’s stock valued at $80,000 after buying an additional 103 shares in the last quarter. Finally, Midwest Professional Planners LTD. raised its holdings in Royal Bank of Canada by 2.8% during the fourth quarter. Midwest Professional Planners LTD. now owns 4,079 shares of the financial services provider’s stock valued at $433,000 after buying an additional 113 shares in the last quarter. 41.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RY shares. Argus raised their price target on Royal Bank of Canada from $121.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 6th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, July 1st. National Bank Financial raised their price target on Royal Bank of Canada from C$147.00 to C$148.00 in a research report on Friday, May 27th. Scotiabank lowered their price target on Royal Bank of Canada from C$150.00 to C$147.00 in a research report on Friday, May 20th. Finally, BMO Capital Markets lowered their price target on Royal Bank of Canada from C$142.00 to C$140.00 in a research report on Friday, May 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $143.84.

Royal Bank of Canada Stock Up 1.0 %

RY stock opened at $97.51 on Monday. Royal Bank of Canada has a twelve month low of $90.75 and a twelve month high of $119.41. The company has a market cap of $135.98 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 2.11 and a beta of 0.90. The business’s 50-day simple moving average is $98.42 and its 200 day simple moving average is $105.30. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last announced its quarterly earnings results on Thursday, May 26th. The financial services provider reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.28. The firm had revenue of $8.86 billion during the quarter. Royal Bank of Canada had a net margin of 28.54% and a return on equity of 17.97%. On average, research analysts anticipate that Royal Bank of Canada will post 8.86 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Tuesday, July 26th will be paid a dividend of $0.995 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, July 25th. This represents a $3.98 dividend on an annualized basis and a yield of 4.08%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 43.54%.

Royal Bank of Canada Company Profile

(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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