Royal Bank of Canada (NYSE:RY) Stock Holdings Increased by Private Advisor Group LLC

Private Advisor Group LLC lifted its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,065 shares of the financial services provider’s stock after purchasing an additional 109 shares during the quarter. Private Advisor Group LLC’s holdings in Royal Bank of Canada were worth $645,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Shell Asset Management Co. lifted its position in Royal Bank of Canada by 3.8% in the first quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 100 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Royal Bank of Canada by 1.9% in the second quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock valued at $562,000 after buying an additional 100 shares during the period. Muirfield Wealth Advisors LLC boosted its stake in Royal Bank of Canada by 0.6% during the second quarter. Muirfield Wealth Advisors LLC now owns 16,437 shares of the financial services provider’s stock valued at $1,749,000 after buying an additional 101 shares in the last quarter. Sollinda Capital Management LLC grew its holdings in Royal Bank of Canada by 2.8% during the second quarter. Sollinda Capital Management LLC now owns 3,674 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 101 shares during the period. Finally, Hexagon Capital Partners LLC grew its holdings in Royal Bank of Canada by 8.7% during the second quarter. Hexagon Capital Partners LLC now owns 1,380 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 111 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RY shares. UBS Group began coverage on shares of Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating for the company. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. Argus raised their price objective on Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, BMO Capital Markets boosted their target price on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Trading Down 0.4 %

Royal Bank of Canada stock opened at $122.88 on Wednesday. The company has a 50 day moving average price of $114.15 and a 200 day moving average price of $106.67. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $124.46. The firm has a market capitalization of $173.88 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 2.01 and a beta of 0.86.

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 issued a dividend of $1.028 per share. The ex-dividend date is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.35%. Royal Bank of Canada’s dividend payout ratio is 51.49%.

About Royal Bank of Canada

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.