Advisors Asset Management Inc. Raises Stake in Royal Bank of Canada (NYSE:RY)

Advisors Asset Management Inc. increased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,743 shares of the financial services provider’s stock after purchasing an additional 461 shares during the period. Advisors Asset Management Inc.’s holdings in Royal Bank of Canada were worth $467,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Addison Advisors LLC lifted its holdings in Royal Bank of Canada by 9.5% during the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 82 shares in the last quarter. Mount Yale Investment Advisors LLC increased its stake in Royal Bank of Canada by 1.6% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock worth $619,000 after acquiring an additional 92 shares during the last quarter. Drive Wealth Management LLC increased its stake in Royal Bank of Canada by 3.4% in the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 92 shares during the last quarter. Private Advisor Group LLC increased its stake in Royal Bank of Canada by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after acquiring an additional 95 shares during the last quarter. Finally, HB Wealth Management LLC increased its stake in Royal Bank of Canada by 1.9% in the 2nd quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock worth $562,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

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

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock opened at $125.27 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $177.09 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86. The business’s 50-day moving average price is $123.49 and its 200-day moving average price is $115.11. Royal Bank of Canada has a 12 month low of $85.02 and a 12 month high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating the consensus estimate of $2.15 by $0.23. The firm had revenue of $10.68 billion for 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%. Sell-side analysts forecast that Royal Bank of Canada will post 8.37 EPS for the current fiscal year.

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.