Royal Bank of Canada (NYSE:RY) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,223 shares of the financial services provider’s stock after buying an additional 4,615 shares during the quarter. Natixis Advisors LLC’s holdings in Royal Bank of Canada were worth $15,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Legal & General Group Plc increased its position in shares of Royal Bank of Canada by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after purchasing an additional 190,341 shares during the last quarter. Creative Planning lifted its holdings in Royal Bank of Canada by 6.4% during the 3rd quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock worth $26,369,000 after buying an additional 12,693 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Royal Bank of Canada by 0.9% in the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after acquiring an additional 124,348 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Royal Bank of Canada in the 2nd quarter valued at approximately $3,787,000. Finally, Acadian Asset Management LLC lifted its stake in Royal Bank of Canada by 55.1% during the first quarter. Acadian Asset Management LLC now owns 42,219 shares of the financial services provider’s stock worth $4,258,000 after purchasing an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RY. BMO Capital Markets raised 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 report on Thursday, August 29th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Price Performance

NYSE RY opened at $122.94 on Wednesday. The company has a 50 day simple moving average of $123.37 and a 200-day simple moving average of $114.27. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. Royal Bank of Canada has a 52-week low of $85.02 and a 52-week high of $126.96. The firm has a market capitalization of $173.80 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly 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. 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 during the quarter, compared to analysts’ expectations of $10.40 billion. Equities research analysts predict that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be issued a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is currently 50.67%.

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.