Royal Bank of Canada (NYSE:RY) Shares Acquired by West Family Investments Inc.

West Family Investments Inc. grew its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 12.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,293 shares of the financial services provider’s stock after buying an additional 570 shares during the period. West Family Investments Inc.’s holdings in Royal Bank of Canada were worth $660,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. National Bank of Canada FI grew its holdings in shares of Royal Bank of Canada by 16.7% in 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 acquiring an additional 2,901,033 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Royal Bank of Canada by 0.9% in the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after buying an additional 124,348 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Royal Bank of Canada by 2.2% during 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 period. Legal & General Group Plc increased its holdings in Royal Bank of Canada by 1.8% in the 2nd 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 buying an additional 190,341 shares during the period. Finally, Capital World Investors lifted its position in Royal Bank of Canada by 75.0% during the 1st quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider’s stock worth $637,460,000 after buying an additional 2,708,534 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 0.8 %

RY opened at $123.41 on Tuesday. The company’s 50 day moving average is $123.36 and its 200-day moving average is $114.12. Royal Bank of Canada has a 1-year low of $85.02 and a 1-year high of $126.96. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The company has a market cap of $174.46 billion, a P/E ratio of 14.81, a PEG ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share 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 for the quarter, compared to the consensus estimate of $10.40 billion. Equities research analysts predict that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 annualized dividend and a yield of 3.33%. Royal Bank of Canada’s dividend payout ratio is presently 50.67%.

Analysts Set New Price Targets

A number of research firms have issued reports on RY. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday. BMO Capital Markets increased their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.