Royal Bank of Canada (NYSE:RY) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its holdings in Royal Bank of Canada (NYSE:RYFree Report) (TSE:RY) by 5.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,471 shares of the financial services provider’s stock after purchasing an additional 4,018 shares during the period. Janney Montgomery Scott LLC’s holdings in Royal Bank of Canada were worth $7,412,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RY. Glenmede Trust Co. NA grew its holdings in shares of Royal Bank of Canada by 16.8% in the third quarter. Glenmede Trust Co. NA now owns 4,298 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 618 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Royal Bank of Canada by 9.8% in the third quarter. Townsquare Capital LLC now owns 13,981 shares of the financial services provider’s stock valued at $1,222,000 after purchasing an additional 1,253 shares in the last quarter. Morgan Stanley grew its holdings in shares of Royal Bank of Canada by 8.7% in the third quarter. Morgan Stanley now owns 3,888,087 shares of the financial services provider’s stock valued at $339,974,000 after purchasing an additional 312,563 shares in the last quarter. Creative Planning lifted its stake in Royal Bank of Canada by 11.0% in the third quarter. Creative Planning now owns 158,005 shares of the financial services provider’s stock worth $13,816,000 after acquiring an additional 15,623 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Royal Bank of Canada by 8.3% in the third quarter. American Century Companies Inc. now owns 161,054 shares of the financial services provider’s stock worth $14,075,000 after acquiring an additional 12,334 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Shares of RY opened at $109.62 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $155.12 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.72 and a beta of 0.86. The company’s fifty day moving average is $105.31 and its two-hundred day moving average is $101.22. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $110.27.

Royal Bank of Canada (NYSE:RYGet Free Report) (TSE:RY) last announced its quarterly earnings data on Thursday, May 30th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.12. The company had revenue of $10.43 billion for the quarter, compared to analysts’ expectations of $9.95 billion. Royal Bank of Canada had a net margin of 12.12% and a return on equity of 14.87%. On average, sell-side analysts predict that Royal Bank of Canada will post 8.47 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be paid a $1.03 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a yield of 3.76%. The ex-dividend date is Thursday, July 25th. Royal Bank of Canada’s payout ratio is currently 50.62%.

Wall Street Analyst Weigh In

RY has been the subject of a number of recent research reports. UBS Group initiated coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They issued a “buy” rating for the company. Argus boosted their price objective on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Barclays initiated coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Scotiabank upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. Finally, BMO Capital Markets downgraded shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.25.

Check Out Our Latest Stock Report on Royal Bank of Canada

Royal Bank of Canada Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank of Canada (NYSE:RYFree Report) (TSE:RY).

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

Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.