Royal Bank of Canada (NYSE:RY) Shares Bought by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV lifted its stake in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 56.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 290 shares of the financial services provider’s stock after acquiring an additional 105 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Royal Bank of Canada were worth $28,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Royal Bank of Canada by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 48,531,311 shares of the financial services provider’s stock worth $5,351,548,000 after acquiring an additional 1,503,485 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Royal Bank of Canada by 265.8% during the 1st quarter. Wellington Management Group LLP now owns 19,835,260 shares of the financial services provider’s stock worth $2,185,770,000 after acquiring an additional 14,412,851 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Royal Bank of Canada by 3.4% during the 1st quarter. 1832 Asset Management L.P. now owns 18,380,046 shares of the financial services provider’s stock worth $1,998,605,000 after acquiring an additional 608,072 shares in the last quarter. Norges Bank acquired a new stake in shares of Royal Bank of Canada in the fourth quarter worth $1,635,969,000. Finally, Toronto Dominion Bank boosted its position in shares of Royal Bank of Canada by 1.3% in the first quarter. Toronto Dominion Bank now owns 13,450,589 shares of the financial services provider’s stock worth $1,485,878,000 after buying an additional 174,908 shares during the period. 40.46% of the stock is owned by institutional investors.

Royal Bank of Canada Price Performance

Shares of RY opened at $96.26 on Tuesday. The firm has a market cap of $134.07 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 2.37 and a beta of 0.87. Royal Bank of Canada has a 52-week low of $90.75 and a 52-week high of $119.41. The business’s 50 day moving average price is $96.49 and its two-hundred day moving average price is $101.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.89.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Investors of record on Wednesday, October 26th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, October 25th. This represents a $4.00 annualized dividend and a yield of 4.16%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.00. Royal Bank of Canada’s dividend payout ratio is 45.91%.

Analyst Ratings Changes

Several analysts have recently commented on RY shares. Canaccord Genuity Group decreased their target price on Royal Bank of Canada from C$134.00 to C$131.50 and set a “hold” rating for the company in a research report on Thursday, August 18th. Desjardins dropped their price objective on Royal Bank of Canada from C$143.00 to C$141.00 in a research note on Thursday, August 25th. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Thursday, September 15th. Keefe, Bruyette & Woods downgraded Royal Bank of Canada from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from C$132.00 to C$118.00 in a report on Monday, August 8th. Finally, Credit Suisse Group decreased their price objective on Royal Bank of Canada from C$144.00 to C$143.00 in a report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $139.81.

Royal Bank of Canada Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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