Royal Bank of Canada (NYSE:RY) Shares Bought by Naples Global Advisors LLC

Naples Global Advisors LLC lifted its holdings in Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 3.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,805 shares of the financial services provider’s stock after buying an additional 255 shares during the quarter. Naples Global Advisors LLC’s holdings in Royal Bank of Canada were worth $659,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. FORA Capital LLC bought a new position in shares of Royal Bank of Canada in the 2nd quarter worth about $1,321,000. Toronto Dominion Bank lifted its position in Royal Bank of Canada by 6.9% in the 2nd quarter. Toronto Dominion Bank now owns 14,374,678 shares of the financial services provider’s stock valued at $1,394,591,000 after purchasing an additional 924,089 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Royal Bank of Canada by 257.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,580,147 shares of the financial services provider’s stock valued at $346,640,000 after purchasing an additional 2,579,121 shares during the last quarter. Wagner Wealth Management LLC bought a new stake in Royal Bank of Canada in the 2nd quarter valued at about $96,000. Finally, Sigma Planning Corp raised its position in shares of Royal Bank of Canada by 6.5% during the 2nd quarter. Sigma Planning Corp now owns 2,406 shares of the financial services provider’s stock worth $233,000 after buying an additional 147 shares in the last quarter. 40.46% of the stock is currently owned by institutional investors.

Royal Bank of Canada Stock Down 0.2 %

Shares of Royal Bank of Canada stock opened at $99.13 on Monday. The firm has a market cap of $137.41 billion, a PE ratio of 11.43, a P/E/G ratio of 2.37 and a beta of 0.82. Royal Bank of Canada has a 52-week low of $83.63 and a 52-week high of $119.41. The business’s 50 day simple moving average is $92.94 and its 200 day simple moving average is $96.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.89.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 24th. The financial services provider reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.01. The firm had revenue of $9.43 billion for the quarter. Royal Bank of Canada had a return on equity of 16.85% and a net margin of 26.29%. On average, analysts predict that Royal Bank of Canada will post 8.41 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 24th. Investors of record on Wednesday, October 26th will be issued a dividend of $1.00 per share. The ex-dividend date is Tuesday, October 25th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.00. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.04%. Royal Bank of Canada’s payout ratio is presently 42.68%.

Wall Street Analyst Weigh In

A number of research firms have commented on RY. Barclays began coverage on shares of Royal Bank of Canada in a research report on Thursday, September 29th. They set an “overweight” rating on the stock. Scotiabank lowered their price objective on shares of Royal Bank of Canada from C$147.00 to C$144.00 in a research note on Thursday, August 18th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Friday. Keefe, Bruyette & Woods downgraded shares of Royal Bank of Canada from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from C$132.00 to C$118.00 in a research report on Monday, August 8th. Finally, Canaccord Genuity Group dropped their target price on shares of Royal Bank of Canada from C$134.00 to C$131.50 and set a “hold” rating on the stock in a research report on Thursday, August 18th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $139.81.

About Royal Bank of Canada

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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.

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

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