Ontario Teachers Pension Plan Board Buys Shares of 2,772 Royal Bank of Canada (NYSE:RY)

Ontario Teachers Pension Plan Board purchased a new position in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,772 shares of the financial services provider’s stock, valued at approximately $346,000.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in Royal Bank of Canada in the third quarter worth about $25,000. Ridgewood Investments LLC bought a new position in shares of Royal Bank of Canada in the 2nd quarter worth approximately $27,000. Grove Bank & Trust purchased a new position in shares of Royal Bank of Canada in the third quarter worth approximately $28,000. Whittier Trust Co. of Nevada Inc. grew its position in Royal Bank of Canada by 110.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after buying an additional 118 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Royal Bank of Canada during the second quarter valued at approximately $33,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Down 0.1 %

Shares of RY stock opened at $125.02 on Friday. 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 has a one year low of $85.02 and a one year high of $126.96. The company’s fifty day moving average price is $123.39 and its 200-day moving average price is $114.56. The company has a market capitalization of $176.74 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.88 and a beta of 0.86.

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

Royal Bank of Canada Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, BMO Capital Markets upped their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One 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. Based on data from MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average price target 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.