BIP Wealth LLC Makes New Investment in Royal Bank of Canada (NYSE:RY)

BIP Wealth LLC purchased a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,921 shares of the financial services provider’s stock, valued at approximately $364,000.

Several other large investors have also made changes to their positions in the business. National Bank of Canada FI boosted its position in shares of Royal Bank of Canada by 16.7% during the second 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 buying an additional 2,901,033 shares during the period. Capital World Investors increased its holdings in shares of Royal Bank of Canada by 75.0% in the 1st quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider’s stock valued at $637,460,000 after acquiring an additional 2,708,534 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Royal Bank of Canada by 40.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,039,171 shares of the financial services provider’s stock worth $508,739,000 after acquiring an additional 1,452,127 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Royal Bank of Canada during the 3rd quarter worth $153,217,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Royal Bank of Canada in the 2nd quarter valued at about $29,254,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RY has been the topic of several analyst reports. BMO Capital Markets lifted their target price on 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. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Trading Up 0.4 %

Royal Bank of Canada stock opened at $122.94 on Wednesday. Royal Bank of Canada has a 12-month low of $85.02 and a 12-month high of $126.96. The stock has a market capitalization of $173.80 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. The firm has a 50 day simple moving average of $123.37 and a 200-day simple moving average of $114.27. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share 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 the consensus estimate 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 research analysts expect that Royal Bank of Canada will post 8.88 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be issued a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is currently 50.67%.

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.