Advisor Group Inc. Has $460,000 Stake in Royal Bank Of Canada (RY)

Advisor Group Inc. cut its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 46.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,335 shares of the financial services provider’s stock after selling 5,513 shares during the period. Advisor Group Inc.’s holdings in Royal Bank Of Canada were worth $460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RY. Ameriprise Financial Inc. boosted its position in shares of 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 worth $2,635,000 after buying an additional 1,761 shares during the period. Rothschild Asset Management Inc. boosted its position in shares of Royal Bank Of Canada by 22.8% during the first quarter. Rothschild Asset Management Inc. now owns 19,732 shares of the financial services provider’s stock worth $1,911,000 after buying an additional 3,664 shares during the period. Ngam Advisors L.P. boosted its position in shares of Royal Bank Of Canada by 2.7% during the first quarter. Ngam Advisors L.P. now owns 30,687 shares of the financial services provider’s stock worth $2,237,000 after buying an additional 796 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Royal Bank Of Canada by 3.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,284 shares of the financial services provider’s stock worth $1,187,000 after buying an additional 602 shares during the period. Finally, United Capital Financial Advisers LLC boosted its position in shares of Royal Bank Of Canada by 54.2% during the first quarter. United Capital Financial Advisers LLC now owns 40,263 shares of the financial services provider’s stock worth $2,936,000 after buying an additional 14,156 shares during the period. Institutional investors and hedge funds own 40.64% of the company’s stock.

Several equities analysts have recently issued reports on the company. Scotiabank downgraded Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report on Monday, August 21st. Howard Weil downgraded Royal Bank Of Canada to a “sector perform” rating in a research report on Monday, August 21st. BidaskClub upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Zacks Investment Research upgraded Royal Bank Of Canada from a “sell” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Wednesday, August 9th. Finally, Canaccord Genuity assumed coverage on Royal Bank Of Canada in a research report on Tuesday, July 18th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $80.00.

Shares of Royal Bank Of Canada (NYSE:RY) opened at 78.25 on Monday. Royal Bank Of Canada has a 52-week low of $60.92 and a 52-week high of $78.66. The firm has a 50-day moving average price of $75.47 and a 200-day moving average price of $72.60. The firm has a market capitalization of $114.08 billion, a P/E ratio of 12.99 and a beta of 1.06.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.42 by ($0.01). Royal Bank Of Canada had a net margin of 22.98% and a return on equity of 16.63%. The company had revenue of $7.43 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same period last year, the company earned $1.72 earnings per share. On average, equities research analysts anticipate that Royal Bank Of Canada will post $5.98 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, October 26th will be paid a dividend of $0.724 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $0.64. This represents a $2.90 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Wednesday, October 25th. Royal Bank Of Canada’s dividend payout ratio is 50.36%. <

Several other hedge funds and other institutional investors have also modified their holdings of RY. Ameriprise Financial Inc. boosted its position in shares of 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 worth $2,635,000 after buying an additional 1,761 shares during the period. Rothschild Asset Management Inc. boosted its position in shares of Royal Bank Of Canada by 22.8% during the first quarter. Rothschild Asset Management Inc. now owns 19,732 shares of the financial services provider’s stock worth $1,911,000 after buying an additional 3,664 shares during the period. Ngam Advisors L.P. boosted its position in shares of Royal Bank Of Canada by 2.7% during the first quarter. Ngam Advisors L.P. now owns 30,687 shares of the financial services provider’s stock worth $2,237,000 after buying an additional 796 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Royal Bank Of Canada by 3.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,284 shares of the financial services provider’s stock worth $1,187,000 after buying an additional 602 shares during the period. Finally, United Capital Financial Advisers LLC boosted its position in shares of Royal Bank Of Canada by 54.2% during the first quarter. United Capital Financial Advisers LLC now owns 40,263 shares of the financial services provider’s stock worth $2,936,000 after buying an additional 14,156 shares during the period. Institutional investors and hedge funds own 40.64% of the company’s stock.

Several equities analysts have recently issued reports on the company. Scotiabank downgraded Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report on Monday, August 21st. Howard Weil downgraded Royal Bank Of Canada to a “sector perform” rating in a research report on Monday, August 21st. BidaskClub upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Zacks Investment Research upgraded Royal Bank Of Canada from a “sell” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Wednesday, August 9th. Finally, Canaccord Genuity assumed coverage on Royal Bank Of Canada in a research report on Tuesday, July 18th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $80.00.

Shares of Royal Bank Of Canada (NYSE:RY) opened at 78.25 on Monday. Royal Bank Of Canada has a 52-week low of $60.92 and a 52-week high of $78.66. The firm has a 50-day moving average price of $75.47 and a 200-day moving average price of $72.60. The firm has a market capitalization of $114.08 billion, a P/E ratio of 12.99 and a beta of 1.06.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.42 by ($0.01). Royal Bank Of Canada had a net margin of 22.98% and a return on equity of 16.63%. The company had revenue of $7.43 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same period last year, the company earned $1.72 earnings per share. On average, equities research analysts anticipate that Royal Bank Of Canada will post $5.98 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, October 26th will be paid a dividend of $0.724 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $0.64. This represents a $2.90 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Wednesday, October 25th. Royal Bank Of Canada’s dividend payout ratio is 50.36%.

WARNING: This article was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/09/advisor-group-inc-has-460000-stake-in-royal-bank-of-canada-ry.html.

Royal Bank Of Canada Profile

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.

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank Of Canada (NYSE:RY) (TSE:RY).

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

Receive News & Ratings for Royal Bank Of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank Of Canada and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply