Mount Yale Investment Advisors LLC Has $619,000 Holdings in Royal Bank of Canada (NYSE:RY)

Mount Yale Investment Advisors LLC increased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,823 shares of the financial services provider’s stock after purchasing an additional 92 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Royal Bank of Canada were worth $619,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in Royal Bank of Canada during the 2nd quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Royal Bank of Canada during the second quarter worth about $33,000. Mather Group LLC. acquired a new position in Royal Bank of Canada during the first quarter valued at approximately $49,000. Nisa Investment Advisors LLC boosted its position in Royal Bank of Canada by 293.8% during the second quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 379 shares during the last quarter. Finally, Heritage Wealth Advisors bought a new position in Royal Bank of Canada in the fourth quarter valued at approximately $61,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. UBS Group started coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They issued a “buy” rating for the company. Argus increased 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 note 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, BMO Capital Markets upped their price objective on 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Stock Performance

RY opened at $123.16 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $124.46. The firm has a market cap of $174.28 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 2.00 and a beta of 0.86. The business’s fifty day moving average is $115.10 and its 200-day moving average is $107.36.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) 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 business had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. Sell-side analysts expect that Royal Bank of Canada will post 8.97 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be issued a dividend of $1.028 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.34%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 52.11%.

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.