Royal Bank of Canada (NYSE:RY) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,755 shares of the financial services provider’s stock after acquiring an additional 626 shares during the period. First Trust Direct Indexing L.P.’s holdings in Royal Bank of Canada were worth $1,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC boosted its stake in shares of Royal Bank of Canada by 1.6% in the second quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock worth $619,000 after acquiring an additional 92 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Royal Bank of Canada by 1.6% in the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after acquiring an additional 95 shares during the last quarter. Shell Asset Management Co. boosted its stake in shares of Royal Bank of Canada by 3.8% in the first quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 100 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Royal Bank of Canada by 1.9% in the second quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock worth $562,000 after acquiring an additional 100 shares during the last quarter. Finally, Leisure Capital Management boosted its stake in shares of Royal Bank of Canada by 1.1% in the third quarter. Leisure Capital Management now owns 9,366 shares of the financial services provider’s stock worth $1,168,000 after acquiring an additional 100 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Performance

NYSE RY opened at $123.63 on Thursday. The stock’s fifty day moving average is $122.40 and its two-hundred day moving average is $111.73. The firm has a market capitalization of $174.77 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 2.00 and a beta of 0.86. 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 has a fifty-two week low of $79.12 and a fifty-two week high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The company had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. On average, research analysts anticipate that Royal Bank of Canada will post 8.91 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be given a $1.028 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.33%. Royal Bank of Canada’s dividend payout ratio is currently 50.67%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. BMO Capital Markets boosted their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada 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.