Rothschild Investment LLC Takes $144,000 Position in Royal Bank of Canada (NYSE:RY)

Rothschild Investment LLC acquired a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the second quarter, HoldingsChannel reports. The firm acquired 1,350 shares of the financial services provider’s stock, valued at approximately $144,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC acquired a new position in Royal Bank of Canada in the 2nd quarter valued at $27,000. First Horizon Advisors Inc. grew its position in shares of Royal Bank of Canada by 64.7% in the fourth quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 185 shares during the period. Mather Group LLC. acquired a new position in Royal Bank of Canada in the first quarter valued at $49,000. Nisa Investment Advisors LLC lifted its position in Royal Bank of Canada by 293.8% during the second quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock worth $54,000 after buying an additional 379 shares during the period. Finally, Heritage Wealth Advisors acquired a new stake in Royal Bank of Canada in the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Jefferies Financial Group raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. UBS Group initiated coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They set a “buy” rating on the stock. Scotiabank raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th. Finally, BMO Capital Markets increased 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 analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Trading Up 0.0 %

Shares of RY stock opened at $120.83 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $121.22. The firm’s 50 day moving average price is $111.16 and its two-hundred day moving average price is $104.90. The stock has a market cap of $170.98 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86.

Royal Bank of Canada Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 annualized dividend and a dividend yield of 3.40%. Royal Bank of Canada’s payout ratio is 51.49%.

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.