Addison Advisors LLC Purchases 82 Shares of Royal Bank of Canada (NYSE:RY)

Addison Advisors LLC lifted its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 945 shares of the financial services provider’s stock after purchasing an additional 82 shares during the quarter. Addison Advisors LLC’s holdings in Royal Bank of Canada were worth $118,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. National Bank of Canada FI boosted 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 purchasing an additional 2,901,033 shares during the period. Capital World Investors grew its stake in shares of Royal Bank of Canada by 75.0% during the first quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider’s stock valued at $637,460,000 after buying an additional 2,708,534 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake 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 during the last quarter. International Assets Investment Management LLC purchased a new position in Royal Bank of Canada during the 3rd quarter valued at $153,217,000. Finally, Vanguard Group Inc. increased its stake in Royal Bank of Canada by 1.8% in the first quarter. Vanguard Group Inc. now owns 55,695,544 shares of the financial services provider’s stock worth $5,618,566,000 after purchasing an additional 964,898 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 0.3 %

NYSE RY opened at $124.04 on Tuesday. Royal Bank of Canada has a one year low of $84.28 and a one year high of $126.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $175.35 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.89 and a beta of 0.86. The company’s 50-day simple moving average is $123.19 and its two-hundred day simple moving average is $113.06.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.23. The company 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%. Equities analysts forecast that Royal Bank of Canada will post 8.88 EPS 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 3.32%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s payout ratio is currently 50.67%.

Wall Street Analyst Weigh In

Several research analysts recently commented on RY shares. BMO Capital Markets raised 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. StockNews.com downgraded 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 given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Royal Bank of Canada currently has an average 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.