Dimensional Fund Advisors LP Grows Position in Royal Bank of Canada (NYSE:RY)

Dimensional Fund Advisors LP raised its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,162,669 shares of the financial services provider’s stock after purchasing an additional 4,062 shares during the period. Dimensional Fund Advisors LP owned 0.15% of Royal Bank of Canada worth $230,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of RY. Ridgewood Investments LLC purchased a new position in Royal Bank of Canada in the 2nd quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Royal Bank of Canada in the second quarter valued at $33,000. Mather Group LLC. bought a new stake in shares of Royal Bank of Canada during the 1st quarter valued at $49,000. Nisa Investment Advisors LLC lifted its holdings in Royal Bank of Canada by 293.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 379 shares in the last quarter. Finally, Heritage Wealth Advisors bought a new position in Royal Bank of Canada in the 4th quarter worth about $61,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $122.56 on Thursday. The company’s fifty day moving average price is $114.38 and its 200-day moving average price is $106.78. 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 firm has a market capitalization of $173.43 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 2.01 and a beta of 0.86. Royal Bank of Canada has a one year low of $77.90 and a one year high of $124.46.

Royal Bank of Canada Cuts Dividend

The company also recently announced 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 of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.36%. Royal Bank of Canada’s dividend payout ratio is presently 52.11%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RY. Argus upped their price target 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. UBS Group started coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They issued a “buy” rating on the stock. 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. Finally, BMO Capital Markets increased their price objective on 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 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus 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.