Good Life Advisors LLC Increases Position in Royal Bank of Canada (NYSE:RY)

Good Life Advisors LLC increased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,140 shares of the financial services provider’s stock after buying an additional 154 shares during the quarter. Good Life Advisors LLC’s holdings in Royal Bank of Canada were worth $267,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Mount Yale Investment Advisors LLC boosted its holdings in Royal Bank of Canada by 1.6% in the second quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 92 shares during the last quarter. Shell Asset Management Co. boosted its stake in shares of Royal Bank of Canada by 3.8% during the 1st quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 100 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Royal Bank of Canada by 1.9% during the 2nd quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock worth $562,000 after acquiring an additional 100 shares in the last quarter. Leisure Capital Management boosted its stake in shares of Royal Bank of Canada by 1.1% during the 3rd quarter. Leisure Capital Management now owns 9,366 shares of the financial services provider’s stock worth $1,168,000 after acquiring an additional 100 shares in the last quarter. Finally, Muirfield Wealth Advisors LLC boosted its stake in shares of Royal Bank of Canada by 0.6% during the 2nd quarter. Muirfield Wealth Advisors LLC now owns 16,437 shares of the financial services provider’s stock worth $1,749,000 after acquiring an additional 101 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. UBS Group initiated coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They set a “buy” rating on the stock. Finally, BMO Capital Markets upped their price target on shares of 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Stock Down 0.3 %

RY opened at $126.05 on Monday. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $126.96. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $120.33 and a 200 day moving average price of $110.52. The company has a market cap of $178.37 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 2.02 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. The company had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Sell-side 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 firm 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 $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 3.26%. Royal Bank of Canada’s payout ratio is 51.99%.

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.