Royal Bank of Canada (NYSE:RY) Stock Holdings Boosted by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 27,247 shares of the financial services provider’s stock after buying an additional 331 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Royal Bank of Canada were worth $3,399,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Ridgewood Investments LLC acquired a new stake in Royal Bank of Canada in the 2nd quarter valued at about $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in Royal Bank of Canada in the 2nd quarter valued at about $33,000. Mather Group LLC. acquired a new stake in Royal Bank of Canada in the 1st quarter valued at about $49,000. Nisa Investment Advisors LLC lifted its holdings in Royal Bank of Canada by 293.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 379 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Royal Bank of Canada in the 1st quarter valued at about $86,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RY. StockNews.com downgraded 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 issued a “buy” rating for the company. Finally, BMO Capital Markets upped their price target on shares of 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 analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Price Performance

RY stock opened at $121.81 on Wednesday. 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 one year low of $77.90 and a one year high of $125.28. The firm has a market capitalization of $172.37 billion, a PE ratio of 15.11, a P/E/G ratio of 2.00 and a beta of 0.86. The firm has a 50-day moving average of $117.80 and a two-hundred day moving average of $109.16.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. The company had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. On average, analysts forecast that Royal Bank of Canada will post 8.97 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.38%. Royal Bank of Canada’s dividend payout ratio is 51.99%.

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.