Wedmont Private Capital Has $378,000 Holdings in Royal Bank of Canada (NYSE:RY)

Wedmont Private Capital lifted its stake in Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 14.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,903 shares of the financial services provider’s stock after acquiring an additional 497 shares during the period. Wedmont Private Capital’s holdings in Royal Bank of Canada were worth $378,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Advisor Group LLC bought a new position in shares of Royal Bank of Canada during the 4th quarter worth about $407,000. Allianz Asset Management GmbH lifted its stake in shares of Royal Bank of Canada by 32.1% during the fourth quarter. Allianz Asset Management GmbH now owns 174,099 shares of the financial services provider’s stock valued at $18,503,000 after acquiring an additional 42,313 shares during the period. MAI Capital Management bought a new position in Royal Bank of Canada during the fourth quarter worth about $207,000. Epoch Investment Partners Inc. increased its holdings in Royal Bank of Canada by 8.0% during the 4th quarter. Epoch Investment Partners Inc. now owns 3,089 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 228 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Royal Bank of Canada by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 3,874,547 shares of the financial services provider’s stock valued at $410,703,000 after purchasing an additional 238,312 shares in the last quarter. 40.46% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Trading Down 1.4 %

Shares of RY stock opened at $95.31 on Monday. Royal Bank of Canada has a 1-year low of $90.75 and a 1-year high of $119.41. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The stock has a market cap of $132.75 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 2.37 and a beta of 0.87. The stock has a 50-day moving average of $96.49 and a 200-day moving average of $101.32.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Shareholders of record on Wednesday, October 26th will be issued a dividend of $1.00 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.00. This represents a $4.00 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Tuesday, October 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.91%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Scotiabank lowered their target price on Royal Bank of Canada from C$147.00 to C$144.00 in a research report on Thursday, August 18th. TD Securities cut their price objective on shares of Royal Bank of Canada from C$150.00 to C$145.00 in a research report on Friday, May 27th. National Bank Financial boosted their target price on shares of Royal Bank of Canada from C$147.00 to C$148.00 in a research report on Thursday, August 25th. Argus lifted their price objective on shares of Royal Bank of Canada from $121.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 6th. Finally, Desjardins reduced their target price on Royal Bank of Canada from C$143.00 to C$141.00 in a report on Thursday, August 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Hold” and an average price target of $139.81.

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.

See Also

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

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