Royal Bank Of Canada (RY) Position Lifted by Highstreet Asset Management Inc. – The Ledger Gazette


Highstreet Asset Management Inc. boosted its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 867,803 shares of the financial services provider’s stock after purchasing an additional 21,848 shares during the period. Royal Bank Of Canada accounts for about 6.4% of Highstreet Asset Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Highstreet Asset Management Inc. owned 0.06% of Royal Bank Of Canada worth $67,143,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of RY. Ameriprise Financial Inc. boosted its position in Royal Bank Of Canada by 5.1% during the first quarter. Ameriprise Financial Inc. now owns 36,146 shares of the financial services provider’s stock valued at $2,635,000 after purchasing an additional 1,761 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Royal Bank Of Canada during the first quarter valued at approximately $640,000. Paloma Partners Management Co boosted its position in Royal Bank Of Canada by 28.0% during the first quarter. Paloma Partners Management Co now owns 10,396 shares of the financial services provider’s stock valued at $756,000 after purchasing an additional 2,276 shares during the last quarter. Country Club Trust Company n.a. boosted its position in Royal Bank Of Canada by 41.9% during the second quarter. Country Club Trust Company n.a. now owns 179,985 shares of the financial services provider’s stock valued at $13,053,000 after purchasing an additional 53,157 shares during the last quarter. Finally, Alta Capital Management LLC boosted its position in Royal Bank Of Canada by 3.2% during the second quarter. Alta Capital Management LLC now owns 22,121 shares of the financial services provider’s stock valued at $1,604,000 after purchasing an additional 692 shares during the last quarter. 40.76% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently commented on RY shares. BidaskClub raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Canaccord Genuity started coverage on Royal Bank Of Canada in a research report on Tuesday, July 18th. They set a “hold” rating for the company. Zacks Investment Research raised Royal Bank Of Canada from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research report on Wednesday, July 19th. Howard Weil cut Royal Bank Of Canada to a “sector perform” rating in a research report on Monday, August 21st. Finally, Scotiabank cut Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Royal Bank Of Canada has an average rating of “Hold” and a consensus price target of $80.00.

Shares of Royal Bank Of Canada (NYSE RY) opened at 78.90 on Friday. The firm has a market capitalization of $115.03 billion, a PE ratio of 13.10 and a beta of 1.06. Royal Bank Of Canada has a 52-week low of $60.92 and a 52-week high of $80.98. The stock has a 50 day moving average price of $77.69 and a 200-day moving average price of $73.33.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.01). Royal Bank Of Canada had a return on equity of 16.63% and a net margin of 22.98%. The business had revenue of $7.43 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter in the previous year, the firm earned $1.72 EPS. Equities analysts forecast that Royal Bank Of Canada will post $5.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, October 26th will be paid a $0.724 dividend. This represents a $2.90 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Wednesday, October 25th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $0.64. Royal Bank Of Canada’s payout ratio is presently 52.54%.

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About Royal Bank Of Canada

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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Institutional Ownership by Quarter for Royal Bank Of Canada (NYSE:RY)

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