PDS Planning Inc Increases Stock Position in Royal Bank of Canada (NYSE:RY)

PDS Planning Inc raised its stake in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,382 shares of the financial services provider’s stock after buying an additional 214 shares during the quarter. PDS Planning Inc’s holdings in Royal Bank of Canada were worth $231,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RY. AdvisorNet Financial Inc lifted its holdings in Royal Bank of Canada by 5.0% in the 1st quarter. AdvisorNet Financial Inc now owns 1,974 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 94 shares in the last quarter. Tilia Fiduciary Partners Inc. grew its stake in Royal Bank of Canada by 10.1% in the 1st quarter. Tilia Fiduciary Partners Inc. now owns 1,089 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 100 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in Royal Bank of Canada by 56.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 290 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 105 shares during the last quarter. Vident Investment Advisory LLC lifted its stake in shares of Royal Bank of Canada by 1.1% during the 1st quarter. Vident Investment Advisory LLC now owns 9,935 shares of the financial services provider’s stock worth $1,095,000 after purchasing an additional 105 shares during the period. Finally, Leisure Capital Management boosted its holdings in shares of Royal Bank of Canada by 1.0% during the first quarter. Leisure Capital Management now owns 10,790 shares of the financial services provider’s stock worth $1,190,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 40.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RY shares. National Bank Financial increased their target price on Royal Bank of Canada from C$147.00 to C$148.00 in a research report on Thursday, August 25th. BMO Capital Markets cut their price target on shares of Royal Bank of Canada from C$142.00 to C$140.00 in a report on Friday, May 27th. Keefe, Bruyette & Woods downgraded shares of Royal Bank of Canada from a “market perform” rating to an “underperform” rating and cut their target price for the company from C$132.00 to C$118.00 in a research note on Monday, August 8th. Credit Suisse Group cut their price objective on Royal Bank of Canada from C$144.00 to C$143.00 in a research report on Thursday, August 25th. Finally, Canaccord Genuity Group reduced their price target on Royal Bank of Canada from C$134.00 to C$131.50 and set a “hold” rating on the stock in a research report on Thursday, August 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $139.81.

Royal Bank of Canada Stock Down 0.8 %

RY opened at $92.68 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $129.09 billion, a PE ratio of 10.69, a P/E/G ratio of 2.33 and a beta of 0.87. The stock’s fifty day moving average is $96.35 and its 200-day moving average is $100.99. Royal Bank of Canada has a one year low of $90.75 and a one year high of $119.41.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last issued its earnings results on Wednesday, August 24th. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.01. The business had revenue of $9.43 billion for the quarter. Royal Bank of Canada had a return on equity of 16.85% and a net margin of 26.29%. On average, equities analysts predict that Royal Bank of Canada will post 8.53 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 24th. Investors of record on Wednesday, October 26th will be paid a $1.00 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.00. This represents a $4.00 annualized dividend and a yield of 4.32%. The ex-dividend date is Tuesday, October 25th. Royal Bank of Canada’s dividend payout ratio is currently 45.91%.

Royal Bank of Canada Company Profile

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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.

See Also

Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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