Kathmere Capital Management LLC Raises Stake in Royal Bank of Canada (NYSE:RY)

Kathmere Capital Management LLC grew its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 18.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,524 shares of the financial services provider’s stock after purchasing an additional 543 shares during the quarter. Kathmere Capital Management LLC’s holdings in Royal Bank of Canada were worth $375,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ridgewood Investments LLC bought a new position in Royal Bank of Canada during the 2nd quarter worth about $27,000. Ashton Thomas Private Wealth LLC purchased a new position in Royal Bank of Canada during the second quarter valued at approximately $33,000. Mather Group LLC. purchased a new position in Royal Bank of Canada during the first quarter valued at approximately $49,000. Nisa Investment Advisors LLC raised its stake 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 buying an additional 379 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Royal Bank of Canada during the first quarter worth $86,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Trading Down 0.2 %

Shares of NYSE:RY opened at $124.26 on Friday. The business’s 50-day moving average is $116.10 and its 200 day moving average is $107.98. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $124.86. The firm has a market capitalization of $175.84 billion, a P/E ratio of 15.42, a P/E/G ratio of 2.01 and a beta of 0.86. 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 (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (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 company had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. On average, research analysts predict that Royal Bank of Canada will post 8.97 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. Stockholders of record on Thursday, October 24th will be issued a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is presently 52.11%.

Wall Street Analyst Weigh In

RY has been the subject of a number of analyst reports. Argus upped their price objective 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 upped their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. UBS Group initiated coverage on Royal Bank of Canada in a research note on Tuesday, July 2nd. They set a “buy” rating for the company. Finally, StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

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.