Ashton Thomas Private Wealth LLC Makes New Investment in Royal Bank of Canada (NYSE:RY)

Ashton Thomas Private Wealth LLC bought a new position in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 313 shares of the financial services provider’s stock, valued at approximately $33,000.

Other hedge funds have also modified their holdings of the company. Orion Portfolio Solutions LLC boosted its position in shares of Royal Bank of Canada by 47.4% in the first quarter. Orion Portfolio Solutions LLC now owns 16,494 shares of the financial services provider’s stock worth $1,664,000 after acquiring an additional 5,302 shares during the last quarter. Barometer Capital Management Inc. acquired a new position in Royal Bank of Canada during the fourth quarter valued at approximately $1,984,000. UniSuper Management Pty Ltd lifted its position in Royal Bank of Canada by 91.3% during the first quarter. UniSuper Management Pty Ltd now owns 19,900 shares of the financial services provider’s stock valued at $2,008,000 after buying an additional 9,500 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Royal Bank of Canada by 90.3% during the fourth quarter. Allianz Asset Management GmbH now owns 224,472 shares of the financial services provider’s stock valued at $22,811,000 after buying an additional 106,531 shares in the last quarter. Finally, Burgundy Asset Management Ltd. lifted its position in Royal Bank of Canada by 20.5% during the fourth quarter. Burgundy Asset Management Ltd. now owns 682,751 shares of the financial services provider’s stock valued at $69,174,000 after buying an additional 116,253 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Trading Down 0.2 %

RY opened at $123.33 on Tuesday. The firm has a market capitalization of $174.52 billion, a P/E ratio of 15.30, a P/E/G ratio of 2.01 and a beta of 0.86. The firm’s 50 day moving average is $113.88 and its 200-day moving average is $106.49. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $124.46. 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 Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be paid 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 3.33%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.49%.

Analyst Ratings Changes

A number of brokerages have weighed in on RY. 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 report on Thursday, August 29th. Argus lifted their price target on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Finally, UBS Group started coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

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.