Royal Bank of Canada (NYSE:RY) Holdings Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,056 shares of the financial services provider’s stock after purchasing an additional 393 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Royal Bank of Canada were worth $2,127,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

RY has been the subject of several analyst reports. UBS Group assumed coverage on Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating for the company. BMO Capital Markets increased their price target on 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. Finally, 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Trading Down 0.8 %

Shares of Royal Bank of Canada stock opened at $124.99 on Tuesday. The business has a fifty day simple moving average of $120.67 and a 200-day simple moving average of $110.69. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $126.96. The firm has a market cap of $176.69 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 2.06 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 (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share 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%. On average, equities analysts forecast that Royal Bank of Canada will post 8.91 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be given a $1.028 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 annualized dividend and a yield of 3.29%. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.18%.

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.