DRW Securities LLC Invests $513,000 in Royal Bank of Canada (NYSE:RY)

DRW Securities LLC bought a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,818 shares of the financial services provider’s stock, valued at approximately $513,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RY. Ridgewood Investments LLC acquired a new stake in Royal Bank of Canada during the second quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Royal Bank of Canada during the 2nd quarter worth approximately $33,000. Mather Group LLC. acquired a new stake in Royal Bank of Canada in the 1st quarter valued at $49,000. Nisa Investment Advisors LLC grew its position in Royal Bank of Canada by 293.8% in the second 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 during the period. Finally, Heritage Wealth Advisors acquired a new position in Royal Bank of Canada during the fourth quarter worth $61,000. 45.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RY has been the topic of several recent analyst reports. UBS Group assumed coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They issued a “buy” rating on the stock. BMO Capital Markets boosted their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Finally, Argus lifted 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 analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at $123.16 on Tuesday. The stock has a 50-day simple moving average of $115.10 and a 200 day simple moving average of $107.36. The stock has a market capitalization of $174.28 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 2.00 and a beta of 0.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $124.46.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping 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 company had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. On average, research analysts anticipate that Royal Bank of Canada will post 8.97 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders 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 yield of 3.34%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is 52.11%.

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.