Daiwa Securities Group Inc. Has $527,000 Stock Holdings in Royal Bank of Canada (NYSE:RY)

Daiwa Securities Group Inc. raised its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 57.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,950 shares of the financial services provider’s stock after acquiring an additional 1,800 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Royal Bank of Canada were worth $527,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Royal Bank of Canada by 1.8% in the first quarter. Vanguard Group Inc. now owns 55,695,544 shares of the financial services provider’s stock valued at $5,618,566,000 after purchasing an additional 964,898 shares during the last quarter. TD Asset Management Inc boosted its holdings in Royal Bank of Canada by 21.7% in the fourth quarter. TD Asset Management Inc now owns 32,571,491 shares of the financial services provider’s stock valued at $3,310,010,000 after acquiring an additional 5,810,077 shares in the last quarter. Bank of Nova Scotia boosted its holdings in Royal Bank of Canada by 5.1% in the fourth quarter. Bank of Nova Scotia now owns 28,024,917 shares of the financial services provider’s stock valued at $2,834,219,000 after acquiring an additional 1,357,956 shares in the last quarter. National Bank of Canada FI boosted its holdings in Royal Bank of Canada by 16.7% in the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock valued at $2,141,681,000 after acquiring an additional 2,901,033 shares in the last quarter. Finally, FIL Ltd boosted its holdings in shares of Royal Bank of Canada by 1.8% during the 4th quarter. FIL Ltd now owns 18,790,164 shares of the financial services provider’s stock valued at $1,900,217,000 after buying an additional 333,333 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Trading Down 0.2 %

Shares of RY stock opened at $123.33 on Tuesday. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $124.46. The stock has a market cap of $174.52 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 2.01 and a beta of 0.86. The company’s 50-day moving average price is $113.88 and its 200-day moving average price is $106.49. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be paid a $1.028 dividend. This represents a $4.11 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.49%.

Analyst Upgrades and Downgrades

RY has been the subject of several research reports. UBS Group started coverage on shares of Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating for the company. BMO Capital Markets boosted their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Argus upped their target price on Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the 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 $142.50.

Royal Bank of Canada Profile

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.