Royal Bank of Canada (NYSE:RY) Shares Purchased by Atomi Financial Group Inc.

Atomi Financial Group Inc. grew its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 28.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,859 shares of the financial services provider’s stock after purchasing an additional 2,884 shares during the period. Atomi Financial Group Inc.’s holdings in Royal Bank of Canada were worth $1,604,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. National Bank of Canada FI raised its position in shares of Royal Bank of Canada by 16.7% in the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock valued at $2,141,681,000 after buying an additional 2,901,033 shares during the last quarter. Capital World Investors raised its holdings in Royal Bank of Canada by 75.0% in the 1st quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider’s stock valued at $637,460,000 after acquiring an additional 2,708,534 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Royal Bank of Canada by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 54,730,646 shares of the financial services provider’s stock worth $5,534,910,000 after purchasing an additional 1,603,427 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Royal Bank of Canada by 40.5% during the first quarter. Canada Pension Plan Investment Board now owns 5,039,171 shares of the financial services provider’s stock worth $508,739,000 after purchasing an additional 1,452,127 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Royal Bank of Canada by 3.9% in the fourth quarter. Wellington Management Group LLP now owns 11,006,207 shares of the financial services provider’s stock valued at $1,118,448,000 after purchasing an additional 415,293 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Performance

Shares of RY opened at $121.81 on Wednesday. Royal Bank of Canada has a one year low of $77.90 and a one year high of $125.28. The company has a 50-day moving average of $117.58 and a two-hundred day moving average of $109.00. 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 cap of $172.37 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 2.00 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. The company had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. On average, equities research analysts expect that Royal Bank of Canada will post 8.97 earnings per share for the current 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 given a $1.028 dividend. This represents a $4.11 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is currently 51.99%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. UBS Group assumed coverage on Royal Bank of Canada in a research report on Tuesday, July 2nd. They issued a “buy” rating on the stock. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Finally, BMO Capital Markets increased their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada 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.