Waldron Private Wealth LLC Invests $217,000 in Royal Bank of Canada (NYSE:RY)

Waldron Private Wealth LLC bought a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,737 shares of the financial services provider’s stock, valued at approximately $217,000.

Several other large investors have also recently added to or reduced their stakes in RY. Park Avenue Securities LLC boosted its holdings in shares of Royal Bank of Canada by 10.3% in the 1st quarter. Park Avenue Securities LLC now owns 2,769 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 259 shares during the last quarter. Hennessy Advisors Inc. grew its position in Royal Bank of Canada by 1.6% during the first quarter. Hennessy Advisors Inc. now owns 52,400 shares of the financial services provider’s stock valued at $5,286,000 after acquiring an additional 800 shares during the period. Kathmere Capital Management LLC increased its stake in Royal Bank of Canada by 5.7% during the first quarter. Kathmere Capital Management LLC now owns 2,981 shares of the financial services provider’s stock worth $301,000 after acquiring an additional 160 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Royal Bank of Canada by 32.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,269 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 314 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Royal Bank of Canada in the 1st quarter valued at about $86,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RY has been the topic of several research reports. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. UBS Group began coverage on shares of Royal Bank of Canada in a report on Tuesday, July 2nd. They set a “buy” rating on the stock. Finally, BMO Capital Markets increased their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Trading Up 0.1 %

NYSE RY opened at $125.24 on Thursday. The stock has a market cap of $177.05 billion, a P/E ratio of 15.14, a PEG ratio of 2.06 and a beta of 0.86. The company’s fifty day simple moving average is $121.28 and its 200-day simple moving average is $110.95. 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 has a 52 week low of $77.90 and a 52 week high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. The firm had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Equities research analysts predict that Royal Bank of Canada will post 8.91 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid 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 yield of 3.28%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.18%.

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.