Royal Bank of Canada (NYSE:RY) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,245 shares of the financial services provider’s stock after purchasing an additional 254 shares during the period. Bleakley Financial Group LLC’s holdings in Royal Bank of Canada were worth $779,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RY. Mather Group LLC. acquired a new position in Royal Bank of Canada during the 1st quarter valued at about $49,000. Park Avenue Securities LLC raised its position in shares of Royal Bank of Canada by 10.3% during the 1st quarter. Park Avenue Securities LLC now owns 2,769 shares of the financial services provider’s stock worth $279,000 after buying an additional 259 shares in the last quarter. Affinity Capital Advisors LLC bought a new stake in shares of Royal Bank of Canada during the 1st quarter worth about $647,000. Cardinal Capital Management raised its position in shares of Royal Bank of Canada by 8.7% during the 1st quarter. Cardinal Capital Management now owns 39,271 shares of the financial services provider’s stock worth $3,962,000 after buying an additional 3,145 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its position in shares of Royal Bank of Canada by 1.6% during the 1st quarter. Hennessy Advisors Inc. now owns 52,400 shares of the financial services provider’s stock worth $5,286,000 after buying an additional 800 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Down 0.8 %

NYSE RY opened at $124.99 on Tuesday. 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 company’s 50 day simple moving average is $120.67 and its 200 day simple moving average is $110.69. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $126.96. The company has a market capitalization of $176.69 billion, a P/E ratio of 15.11, a PEG ratio of 2.06 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. Equities research analysts expect that Royal Bank of Canada will post 8.91 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The company 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 3.29%. Royal Bank of Canada’s dividend payout ratio is currently 50.18%.

Analyst Ratings Changes

RY has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. UBS Group initiated coverage on shares of Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating on the stock. Finally, BMO Capital Markets boosted 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 report on Thursday, August 29th. One investment 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’s stock. According to data from MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus price target 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.