Royal Bank of Canada (NYSE:RY) Shares Bought by Altrius Capital Management Inc

Altrius Capital Management Inc lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,660 shares of the financial services provider’s stock after purchasing an additional 1,354 shares during the quarter. Royal Bank of Canada comprises about 2.1% of Altrius Capital Management Inc’s investment portfolio, making the stock its 6th largest position. Altrius Capital Management Inc’s holdings in Royal Bank of Canada were worth $8,155,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. purchased a new position in Royal Bank of Canada in the 4th quarter valued at approximately $301,000. Avantax Advisory Services Inc. raised its stake in shares of Royal Bank of Canada by 23.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,101 shares of the financial services provider’s stock worth $516,000 after buying an additional 964 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Royal Bank of Canada by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 80,677 shares of the financial services provider’s stock worth $8,159,000 after buying an additional 4,476 shares in the last quarter. UBS Group AG increased its holdings in Royal Bank of Canada by 26.7% during the 4th quarter. UBS Group AG now owns 469,632 shares of the financial services provider’s stock valued at $47,494,000 after acquiring an additional 98,983 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in Royal Bank of Canada by 16.8% during the 4th quarter. Corient Private Wealth LLC now owns 35,993 shares of the financial services provider’s stock valued at $3,640,000 after acquiring an additional 5,164 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.2 %

Shares of RY opened at $122.56 on Thursday. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $124.46. The stock has a fifty day moving average of $114.38 and a two-hundred day moving average of $106.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $173.43 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 2.01 and a beta of 0.86.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be given a dividend of $1.028 per share. The ex-dividend date is Thursday, October 24th. This represents a $4.11 annualized dividend and a yield of 3.36%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 52.11%.

Analyst Upgrades and Downgrades

RY has been the topic of several research reports. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. BMO Capital Markets increased their target price on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. UBS Group started coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They issued a “buy” rating for the company. Finally, Argus upped their price objective on 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average target price of $142.50.

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.