Royal Bank of Canada (NYSE:RY) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its holdings in Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,107,911 shares of the financial services provider’s stock after acquiring an additional 42,931 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Royal Bank of Canada worth $100,279,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Bank of Montreal Can grew its holdings in Royal Bank of Canada by 4.2% during 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 in the last quarter. FMR LLC boosted its stake in Royal Bank of Canada by 2.2% during the 2nd quarter. FMR LLC now owns 15,905,049 shares of the financial services provider’s stock valued at $1,540,091,000 after acquiring an additional 336,653 shares during the last quarter. Toronto Dominion Bank boosted its stake in Royal Bank of Canada by 6.9% during 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 acquiring an additional 924,089 shares during the last quarter. Legal & General Group Plc boosted its stake in Royal Bank of Canada by 10.3% during 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 acquiring an additional 782,842 shares during the last quarter. Finally, Scotia Capital Inc. boosted its stake in Royal Bank of Canada by 2.4% during the 2nd quarter. Scotia Capital Inc. now owns 7,891,351 shares of the financial services provider’s stock valued at $763,909,000 after acquiring an additional 184,999 shares during the last quarter. Institutional investors and hedge funds own 41.19% of the company’s stock.

Wall Street Analysts Forecast Growth

RY has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Thursday, December 1st. Barclays initiated coverage on shares of Royal Bank of Canada in a research note on Thursday, September 29th. They set an “overweight” rating on the stock. Desjardins increased their price objective on shares of Royal Bank of Canada from C$140.00 to C$145.00 in a research note on Thursday, December 1st. Keefe, Bruyette & Woods upgraded shares of Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 1st. Finally, National Bank Financial reduced their price target on shares of Royal Bank of Canada from C$148.00 to C$147.00 in a research report 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.09.

Royal Bank of Canada Trading Up 0.8 %

Shares of NYSE:RY opened at $100.68 on Monday. The company has a market cap of $139.52 billion, a PE ratio of 11.71, a P/E/G ratio of 1.77 and a beta of 0.84. The company’s 50-day moving average price is $97.36 and its 200 day moving average price is $95.47. Royal Bank of Canada has a fifty-two week low of $83.63 and a fifty-two 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 issued its quarterly earnings data on Wednesday, November 30th. The financial services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.07. The firm had revenue of $9.44 billion for the quarter. Royal Bank of Canada had a net margin of 23.66% and a return on equity of 16.33%. Sell-side analysts anticipate that Royal Bank of Canada will post 8.63 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Thursday, January 26th will be given a $0.9832 dividend. The ex-dividend date is Wednesday, January 25th. This represents a $3.93 annualized dividend and a yield of 3.91%. 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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