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

Pathway Financial Advisers LLC increased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,726 shares of the financial services provider’s stock after purchasing an additional 165 shares during the period. Pathway Financial Advisers LLC’s holdings in Royal Bank of Canada were worth $964,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Strategic Blueprint LLC bought a new position in shares of Royal Bank of Canada in the 3rd quarter worth $501,000. Autumn Glory Partners LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth $249,000. Custom Index Systems LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth $330,000. Carret Asset Management LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth $216,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Royal Bank of Canada by 5.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 30,849 shares of the financial services provider’s stock worth $3,848,000 after purchasing an additional 1,663 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Trading Up 0.1 %

Shares of Royal Bank of Canada stock opened at $123.63 on Thursday. 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 stock has a market capitalization of $174.77 billion, a P/E ratio of 14.95, a P/E/G ratio of 2.00 and a beta of 0.86. Royal Bank of Canada has a 52-week low of $79.12 and a 52-week high of $126.96. The stock’s 50-day simple moving average is $122.40 and its 200 day simple moving average is $111.73.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. The business had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. As a group, research analysts anticipate that Royal Bank of Canada will post 8.91 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be issued a dividend of $1.028 per share. This represents a $4.11 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is presently 50.67%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. BMO Capital Markets lifted their target price on 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 cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Profile

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.