Fmr LLC Purchases 7,702,585 Shares of Royal Bank of Canada (NYSE:RY)

Fmr LLC increased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 75.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,866,021 shares of the financial services provider’s stock after buying an additional 7,702,585 shares during the quarter. Fmr LLC’s holdings in Royal Bank of Canada were worth $2,229,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in RY. Addison Advisors LLC increased its position in Royal Bank of Canada by 9.5% in the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 82 shares during the period. Mount Yale Investment Advisors LLC increased its holdings in Royal Bank of Canada by 1.6% in the second quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 92 shares during the period. Drive Wealth Management LLC raised its position in Royal Bank of Canada by 3.4% during the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 92 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Royal Bank of Canada by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after buying an additional 95 shares during the period. Finally, Shell Asset Management Co. grew its position in shares of Royal Bank of Canada by 3.8% in the 1st quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock valued at $274,000 after buying an additional 100 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

RY has been the topic of a number of recent analyst reports. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets boosted 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 report on Thursday, August 29th. Finally, Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Price Performance

Shares of RY opened at $124.30 on Tuesday. The firm has a market cap of $175.72 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.93 and a beta of 0.86. Royal Bank of Canada has a 52-week low of $85.02 and a 52-week 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 business’s 50 day moving average price is $123.41 and its two-hundred day moving average price is $114.89.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. On average, equities analysts anticipate that Royal Bank of Canada will post 8.37 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, October 24th were given a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Thursday, October 24th. Royal Bank of Canada’s payout ratio is 50.79%.

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.