OneDigital Investment Advisors LLC Purchases 115 Shares of Royal Bank of Canada (NYSE:RY)

OneDigital Investment Advisors LLC increased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,508 shares of the financial services provider’s stock after buying an additional 115 shares during the period. OneDigital Investment Advisors LLC’s holdings in Royal Bank of Canada were worth $313,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of RY. Plato Investment Management Ltd bought a new stake in Royal Bank of Canada in the third quarter worth about $3,106,000. MQS Management LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth approximately $844,000. Hamel Associates Inc. purchased a new position in Royal Bank of Canada during the 3rd quarter valued at $206,000. Community Bank & Trust Waco Texas grew its position in Royal Bank of Canada by 44.9% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 5,239 shares of the financial services provider’s stock valued at $653,000 after acquiring an additional 1,623 shares during the last quarter. Finally, Cumberland Partners Ltd grew its position in Royal Bank of Canada by 1.3% in the 3rd quarter. Cumberland Partners Ltd now owns 408,530 shares of the financial services provider’s stock valued at $51,039,000 after acquiring an additional 5,103 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RY shares. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets lifted 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 research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Stock Up 2.7 %

Royal Bank of Canada stock opened at $125.09 on Friday. Royal Bank of Canada has a 1-year low of $85.02 and a 1-year high of $126.96. The business has a fifty day moving average price of $123.36 and a 200-day moving average price of $114.40. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $176.84 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.88 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The company had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. Equities research analysts forecast that Royal Bank of Canada will post 8.88 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business 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 dividend yield of 3.29%. Royal Bank of Canada’s payout ratio is currently 50.79%.

Royal Bank of Canada Company 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.