Royal Bank of Canada (NYSE:RY) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 91.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 125,535 shares of the financial services provider’s stock after purchasing an additional 59,965 shares during the period. Intech Investment Management LLC’s holdings in Royal Bank of Canada were worth $13,362,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new stake in Royal Bank of Canada during the second quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in Royal Bank of Canada during the second quarter worth approximately $33,000. Mather Group LLC. purchased a new stake in Royal Bank of Canada during the first quarter worth approximately $49,000. Nisa Investment Advisors LLC grew its stake 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 worth $54,000 after buying an additional 379 shares during the period. Finally, Heritage Wealth Advisors purchased a new stake in Royal Bank of Canada during the fourth quarter worth approximately $61,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 1.0 %

NYSE RY opened at $121.84 on Friday. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $124.46. 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 has a market capitalization of $172.41 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 2.00 and a beta of 0.86. The company’s fifty day moving average price is $114.85 and its two-hundred day moving average price is $107.07.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a dividend of $1.028 per share. The ex-dividend date is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.37%. Royal Bank of Canada’s dividend payout ratio (DPR) is 51.49%.

Analyst Ratings Changes

RY has been the subject of several research reports. UBS Group initiated coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They set a “buy” rating for the company. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. BMO Capital Markets upped their target price on shares of 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. Finally, Argus upped their target price 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. One investment 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $142.50.

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.