Rockefeller Capital Management L.P. Grows Stake in Royal Bank of Canada (NYSE:RY)

Rockefeller Capital Management L.P. lifted its position in Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 12.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,790 shares of the financial services provider’s stock after buying an additional 9,642 shares during the period. Rockefeller Capital Management L.P.’s holdings in Royal Bank of Canada were worth $7,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Private Wealth Group LLC raised its holdings in Royal Bank of Canada by 185.6% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 277 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 180 shares during the period. SeaCrest Wealth Management LLC bought a new stake in Royal Bank of Canada during the second quarter valued at about $29,000. Financial Management Professionals Inc. raised its holdings in Royal Bank of Canada by 64.9% during the third quarter. Financial Management Professionals Inc. now owns 343 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 135 shares during the period. Venture Visionary Partners LLC bought a new stake in Royal Bank of Canada during the second quarter valued at about $33,000. Finally, Win Advisors Inc. raised its holdings in Royal Bank of Canada by 70.3% during the second quarter. Win Advisors Inc. now owns 356 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 147 shares during the period. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Up 0.8 %

Shares of NYSE:RY opened at $100.68 on Friday. Royal Bank of Canada has a 1 year low of $83.63 and a 1 year high of $116.84. The business has a 50 day simple moving average of $97.36 and a two-hundred day simple moving average of $95.48. The firm has a market capitalization of $139.52 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.77 and a beta of 0.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last announced its earnings results on Wednesday, November 30th. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter. On average, equities analysts predict that Royal Bank of Canada will post 8.63 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Thursday, January 26th will be given a dividend of $0.9832 per share. The ex-dividend date is Wednesday, January 25th. This represents a $3.93 annualized dividend and a dividend yield of 3.91%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 43.02%.

Wall Street Analyst Weigh In

A number of research firms have commented on RY. Bank of America raised Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a report on Monday, December 12th. Barclays started coverage on Royal Bank of Canada in a report on Thursday, September 29th. They issued an “overweight” rating on the stock. Canaccord Genuity Group lifted their target price on Royal Bank of Canada from C$131.00 to C$136.00 and gave the stock a “buy” rating in a report on Thursday, December 1st. National Bank Financial reduced their target price on Royal Bank of Canada from C$148.00 to C$147.00 in a report on Thursday, December 1st. Finally, StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Thursday, December 1st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $140.09.

Royal Bank of Canada Profile

(Get Rating)

Royal Bank of Canada operates as a diversified financial service company. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury, and Capital Markets. The Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions, as well as indirect lending, including auto financing; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

Read More

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:RYGet Rating) (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.