Prospera Private Wealth LLC Acquires Shares of 790 Royal Bank of Canada (NYSE:RY)

Prospera Private Wealth LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 790 shares of the financial services provider’s stock, valued at approximately $99,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RY. National Bank of Canada FI increased its position in shares of Royal Bank of Canada by 16.7% during the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $2,141,681,000 after purchasing an additional 2,901,033 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Royal Bank of Canada during the third quarter worth $153,217,000. MUFG Securities EMEA plc acquired a new stake in Royal Bank of Canada in the 2nd quarter valued at about $29,254,000. The Manufacturers Life Insurance Company lifted its stake in Royal Bank of Canada by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock worth $1,289,274,000 after acquiring an additional 256,023 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Royal Bank of Canada by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after purchasing an additional 190,341 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $125.09 on Friday. The firm has a market capitalization of $176.84 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 1.88 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50 day simple moving average is $123.36 and its 200-day simple moving average is $114.40. Royal Bank of Canada has a 12 month low of $85.02 and a 12 month high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. As a group, equities analysts forecast that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be given a dividend of $1.028 per share. This represents a $4.11 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is presently 50.79%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RY. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday. BMO Capital Markets boosted their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average target price of $142.50.

About Royal Bank of Canada

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.