Arkos Global Advisors Purchases Shares of 1,885 Royal Bank of Canada (NYSE:RY)

Arkos Global Advisors acquired a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, HoldingsChannel reports. The fund acquired 1,885 shares of the financial services provider’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Orion Portfolio Solutions LLC boosted its holdings in Royal Bank of Canada by 17.9% in the fourth quarter. Orion Portfolio Solutions LLC now owns 11,192 shares of the financial services provider’s stock valued at $1,134,000 after purchasing an additional 1,697 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Royal Bank of Canada by 12.1% in the 4th quarter. Parallel Advisors LLC now owns 4,652 shares of the financial services provider’s stock valued at $470,000 after buying an additional 503 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Royal Bank of Canada by 90.3% in the 4th quarter. Allianz Asset Management GmbH now owns 224,472 shares of the financial services provider’s stock valued at $22,811,000 after buying an additional 106,531 shares during the last quarter. Capstone Investment Advisors LLC raised its stake in Royal Bank of Canada by 64.6% during the 4th quarter. Capstone Investment Advisors LLC now owns 6,111 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 2,398 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in Royal Bank of Canada by 5.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 18,592 shares of the financial services provider’s stock valued at $1,880,000 after acquiring an additional 1,000 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on RY. UBS Group initiated coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They set a “buy” rating on the stock. Argus raised their price target 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. BMO Capital Markets boosted their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $124.23 on Friday. The stock’s 50-day moving average price is $116.10 and its 200 day moving average price is $107.93. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $175.79 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 2.01 and a beta of 0.86. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $124.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The business had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. As a group, equities research analysts forecast that Royal Bank of Canada will post 8.97 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be given a dividend of $1.028 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.31%. Royal Bank of Canada’s payout ratio is currently 52.11%.

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.