Royal Bank of Canada (NYSE:RY) Shares Bought by Leisure Capital Management

Leisure Capital Management increased its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,366 shares of the financial services provider’s stock after acquiring an additional 100 shares during the quarter. Leisure Capital Management’s holdings in Royal Bank of Canada were worth $1,168,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RY. Virtu Financial LLC purchased a new position in shares of Royal Bank of Canada during the 4th quarter valued at approximately $276,000. Centaurus Financial Inc. increased its position in shares of Royal Bank of Canada by 9.4% in the 4th quarter. Centaurus Financial Inc. now owns 2,560 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 220 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Royal Bank of Canada by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 80,677 shares of the financial services provider’s stock worth $8,159,000 after purchasing an additional 4,476 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Royal Bank of Canada in the 1st quarter valued at about $49,000. Finally, KMG Fiduciary Partners LLC increased its holdings in Royal Bank of Canada by 3.8% in the first quarter. KMG Fiduciary Partners LLC now owns 14,979 shares of the financial services provider’s stock valued at $1,511,000 after buying an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

NYSE:RY traded up $0.71 during midday trading on Wednesday, hitting $125.12. 79,591 shares of the stock were exchanged, compared to its average volume of 1,044,384. The company has a market capitalization of $177.05 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 1.99 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a one year low of $77.90 and a one year high of $125.64. The business has a 50-day moving average price of $119.27 and a two-hundred day moving average price of $109.97.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 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 company had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. Sell-side analysts predict that Royal Bank of Canada will post 8.91 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a dividend of $1.028 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.29%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.99%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RY shares. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. BMO Capital Markets upped their price objective 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. Finally, UBS Group began coverage on shares of Royal Bank of Canada in a report on Tuesday, July 2nd. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Company 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.