Bank of New York Mellon Corp Purchases 26,537 Shares of Royal Bank of Canada (NYSE:RY)

Bank of New York Mellon Corp raised its position in shares of Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,675,277 shares of the financial services provider’s stock after acquiring an additional 26,537 shares during the period. Bank of New York Mellon Corp’s holdings in Royal Bank of Canada were worth $150,843,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Aptus Capital Advisors LLC boosted its position in Royal Bank of Canada by 7.7% during the 3rd quarter. Aptus Capital Advisors LLC now owns 5,860 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 419 shares in the last quarter. Merit Financial Group LLC boosted its position in Royal Bank of Canada by 1.9% during the 3rd quarter. Merit Financial Group LLC now owns 5,996 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 111 shares in the last quarter. TIAA FSB lifted its holdings in shares of Royal Bank of Canada by 2.8% during the third quarter. TIAA FSB now owns 13,223 shares of the financial services provider’s stock valued at $1,191,000 after purchasing an additional 355 shares during the last quarter. Veriti Management LLC lifted its holdings in shares of Royal Bank of Canada by 3.3% during the third quarter. Veriti Management LLC now owns 14,278 shares of the financial services provider’s stock valued at $1,286,000 after purchasing an additional 458 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Royal Bank of Canada by 12.5% during the third quarter. Rockefeller Capital Management L.P. now owns 86,790 shares of the financial services provider’s stock valued at $7,814,000 after purchasing an additional 9,642 shares during the last quarter. 41.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RY shares. Keefe, Bruyette & Woods upgraded shares of Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a report on Thursday, December 1st. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday. Desjardins lifted their target price on shares of Royal Bank of Canada from C$145.00 to C$147.00 in a report on Tuesday, February 7th. Canaccord Genuity Group lifted their target price on shares of Royal Bank of Canada from C$131.00 to C$136.00 and gave the company a “buy” rating in a report on Thursday, December 1st. Finally, Bank of America upgraded shares of Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a report on Monday, December 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.50.

Royal Bank of Canada Price Performance

Shares of RY opened at $92.65 on Friday. The firm has a market cap of $128.40 billion, a PE ratio of 11.51, a P/E/G ratio of 1.66 and a beta of 0.84. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $100.55 and a two-hundred day simple moving average of $96.53. Royal Bank of Canada has a 1-year low of $83.63 and a 1-year high of $114.55.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Tuesday, April 25th will be paid a dividend of $0.992 per share. The ex-dividend date is Monday, April 24th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.98. This represents a $3.97 dividend on an annualized basis and a yield of 4.28%. Royal Bank of Canada’s payout ratio is currently 48.32%.

Royal Bank of Canada Company Profile

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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.