Americana Partners LLC Grows Stock Position in Royal Bank of Canada (NYSE:RY)

Americana Partners LLC increased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,508 shares of the financial services provider’s stock after acquiring an additional 145 shares during the quarter. Americana Partners LLC’s holdings in Royal Bank of Canada were worth $3,681,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of RY. Orion Portfolio Solutions LLC increased its stake in Royal Bank of Canada by 47.4% in the 1st quarter. Orion Portfolio Solutions LLC now owns 16,494 shares of the financial services provider’s stock worth $1,664,000 after acquiring an additional 5,302 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Royal Bank of Canada by 91.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 19,900 shares of the financial services provider’s stock worth $2,008,000 after purchasing an additional 9,500 shares in the last quarter. Legal & General Group Plc grew its position in Royal Bank of Canada by 1.8% during the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after acquiring an additional 190,341 shares during the last quarter. Creative Planning raised its stake in shares of Royal Bank of Canada by 6.4% during the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock worth $26,369,000 after acquiring an additional 12,693 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Royal Bank of Canada in the 2nd quarter worth approximately $3,787,000. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Stock Up 0.9 %

Shares of NYSE RY traded up $1.03 during mid-day trading on Friday, hitting $121.92. 111,482 shares of the stock traded hands, compared to its average volume of 1,078,897. The company has a market cap of $172.35 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 2.02 and a beta of 0.86. The stock has a fifty day moving average price of $122.56 and a 200-day moving average price of $111.79. Royal Bank of Canada has a 52 week low of $80.96 and a 52 week high of $126.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The company had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $10.40 billion. Research analysts anticipate that Royal Bank of Canada will post 8.91 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is currently 50.79%.

Analyst Ratings Changes

Several brokerages have weighed in on RY. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. BMO Capital Markets raised their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Company 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.