Tacita Capital Inc Grows Stock Holdings in Royal Bank of Canada (NYSE:RY)

Tacita Capital Inc lifted its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 12.7% during the third quarter, Holdings Channel reports. The institutional investor owned 32,818 shares of the financial services provider’s stock after purchasing an additional 3,700 shares during the period. Royal Bank of Canada makes up approximately 2.7% of Tacita Capital Inc’s investment portfolio, making the stock its 11th biggest position. Tacita Capital Inc’s holdings in Royal Bank of Canada were worth $4,101,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada in the 3rd quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Royal Bank of Canada by 110.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares during the last quarter. Grove Bank & Trust bought a new position in Royal Bank of Canada during the 3rd quarter valued at about $28,000. Ridgewood Investments LLC bought a new position in Royal Bank of Canada during the 2nd quarter valued at about $27,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Royal Bank of Canada during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

RY has been the subject of several research reports. BMO Capital Markets boosted their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Stock Up 0.6 %

NYSE:RY traded up $0.71 during midday trading on Monday, reaching $124.34. 49,537 shares of the stock traded hands, compared to its average volume of 1,072,741. Royal Bank of Canada has a 12-month low of $84.28 and a 12-month high of $126.96. The business has a 50-day moving average of $123.19 and a two-hundred day moving average of $113.06. 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 $175.78 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.89 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The business had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. On average, equities analysts forecast that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors 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 annualized dividend and a yield of 3.31%. Royal Bank of Canada’s dividend payout ratio is presently 50.67%.

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.