Pathway Financial Advisers LLC Acquires 165 Shares of Royal Bank of Canada (NYSE:RY)

Pathway Financial Advisers LLC grew its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,726 shares of the financial services provider’s stock after acquiring an additional 165 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Royal Bank of Canada were worth $964,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arkadios Wealth Advisors lifted its stake in shares of Royal Bank of Canada by 2.2% in the third quarter. Arkadios Wealth Advisors now owns 8,203 shares of the financial services provider’s stock valued at $1,023,000 after buying an additional 176 shares during the period. Forsta AP Fonden lifted its position in shares of Royal Bank of Canada by 10.6% in the 3rd quarter. Forsta AP Fonden now owns 343,500 shares of the financial services provider’s stock worth $42,920,000 after acquiring an additional 32,900 shares during the period. Ballentine Partners LLC lifted its position in shares of Royal Bank of Canada by 30.8% in the 3rd quarter. Ballentine Partners LLC now owns 4,214 shares of the financial services provider’s stock worth $526,000 after acquiring an additional 993 shares during the period. Legacy Capital Group California Inc. grew its holdings in shares of Royal Bank of Canada by 66.5% during the 3rd quarter. Legacy Capital Group California Inc. now owns 4,555 shares of the financial services provider’s stock worth $568,000 after purchasing an additional 1,819 shares in the last quarter. Finally, JCIC Asset Management Inc. increased its position in shares of Royal Bank of Canada by 4.3% during the third quarter. JCIC Asset Management Inc. now owns 83,412 shares of the financial services provider’s stock valued at $10,410,000 after purchasing an additional 3,407 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the topic of a number of recent research reports. BMO Capital Markets lifted their price target on shares of 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. UBS Group started coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They issued a “buy” rating on the stock. Finally, StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Trading Down 0.9 %

Shares of Royal Bank of Canada stock opened at $122.46 on Friday. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $126.96. The stock has a market capitalization of $173.29 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 2.05 and a beta of 0.86. The company has a 50-day simple moving average of $121.75 and a 200 day simple moving average of $111.23. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data 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 company had revenue of $10.68 billion during 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%. Research analysts expect that Royal Bank of Canada will post 8.91 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is currently 51.99%.

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.