Park Avenue Securities LLC Grows Position in Royal Bank of Canada (NYSE:RY)

Park Avenue Securities LLC raised its position in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 21.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,977 shares of the financial services provider’s stock after buying an additional 533 shares during the quarter. Park Avenue Securities LLC’s holdings in Royal Bank of Canada were worth $268,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RY. Bank of Montreal Can lifted its stake in shares of Royal Bank of Canada by 4.2% in the 2nd quarter. Bank of Montreal Can now owns 65,946,059 shares of the financial services provider’s stock valued at $6,817,816,000 after purchasing an additional 2,687,026 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Royal Bank of Canada by 257.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,580,147 shares of the financial services provider’s stock valued at $346,640,000 after purchasing an additional 2,579,121 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Royal Bank of Canada by 6.9% in the 2nd quarter. Toronto Dominion Bank now owns 14,374,678 shares of the financial services provider’s stock valued at $1,394,591,000 after purchasing an additional 924,089 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Royal Bank of Canada by 10.3% in the 2nd quarter. Legal & General Group Plc now owns 8,400,941 shares of the financial services provider’s stock valued at $811,689,000 after purchasing an additional 782,842 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Royal Bank of Canada by 55.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,153,661 shares of the financial services provider’s stock valued at $208,518,000 after purchasing an additional 772,045 shares during the last quarter. 41.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RY shares. Canaccord Genuity Group raised their price objective on Royal Bank of Canada from C$131.00 to C$136.00 and gave the company a “buy” rating in a research note on Thursday, December 1st. Keefe, Bruyette & Woods raised Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 1st. Bank of America raised Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a research note on Monday, December 12th. Barclays initiated coverage on Royal Bank of Canada in a research note on Thursday, September 29th. They set an “overweight” rating for the company. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Thursday, December 1st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average price target of $140.09.

Royal Bank of Canada Trading Up 0.1 %

RY opened at $100.75 on Tuesday. The stock’s fifty day moving average is $97.40 and its two-hundred day moving average is $95.49. The company has a market capitalization of $139.62 billion, a P/E ratio of 11.72, a PEG ratio of 1.77 and a beta of 0.84. Royal Bank of Canada has a 52 week low of $83.63 and a 52 week high of $116.84. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.10.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last announced its quarterly earnings results on Wednesday, November 30th. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.07. Royal Bank of Canada had a return on equity of 16.33% and a net margin of 23.66%. The business had revenue of $9.44 billion for the quarter. Analysts forecast that Royal Bank of Canada will post 8.63 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Stockholders of record on Thursday, January 26th will be issued a $0.9832 dividend. The ex-dividend date is Wednesday, January 25th. This represents a $3.93 dividend on an annualized basis and a dividend yield of 3.90%. Royal Bank of Canada’s dividend payout ratio is presently 43.02%.

About Royal Bank of Canada

(Get Rating)

Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support. The Personal and Commercial Banking segment deals with a broad suite of financial products and services in Canada.

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

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