Vanguard Personalized Indexing Management LLC Has $3.15 Million Holdings in Royal Bank of Canada (NYSE:RY)

Vanguard Personalized Indexing Management LLC boosted its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 39.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,788 shares of the financial services provider’s stock after purchasing an additional 8,399 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Royal Bank of Canada were worth $3,152,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Argus raised their price target on 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 downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. UBS Group assumed coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They issued a “buy” rating for the company. Finally, BMO Capital Markets boosted their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Trading Up 0.4 %

Shares of Royal Bank of Canada stock opened at $123.05 on Friday. 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 business has a fifty day simple moving average of $114.64 and a two-hundred day simple moving average of $106.89. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $124.46. The company has a market capitalization of $174.12 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 2.00 and a beta of 0.86.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be issued a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is 51.49%.

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.