Bleakley Financial Group LLC Has $779,000 Holdings in Royal Bank of Canada (NYSE:RY)

Bleakley Financial Group LLC boosted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,245 shares of the financial services provider’s stock after purchasing an additional 254 shares during the period. Bleakley Financial Group LLC’s holdings in Royal Bank of Canada were worth $779,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new position in Royal Bank of Canada during the second quarter valued at approximately $27,000. Grove Bank & Trust bought a new stake in Royal Bank of Canada in the third quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC bought a new stake in Royal Bank of Canada in the second quarter worth approximately $33,000. Mather Group LLC. bought a new stake in Royal Bank of Canada in the first quarter worth approximately $49,000. Finally, Nisa Investment Advisors LLC grew its position in Royal Bank of Canada by 293.8% in the second quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 379 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on RY. UBS Group began coverage on shares of Royal Bank of Canada in a research report on Tuesday, July 2nd. They issued a “buy” rating for the company. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Finally, BMO Capital Markets boosted their target price on shares of 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 equities 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 assigned a strong buy rating to the company. According to data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Price Performance

NYSE RY opened at $124.99 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $120.67 and a 200 day simple moving average of $110.69. The company has a market cap of $176.69 billion, a P/E ratio of 15.11, a P/E/G ratio of 2.06 and a beta of 0.86. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating the consensus estimate of $2.15 by $0.23. The firm had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. On average, sell-side analysts predict that Royal Bank of Canada will post 8.91 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be paid a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is currently 50.18%.

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.