NN Investment Partners Holdings N.V. Acquires 4,015 Shares of Royal Bank of Canada (RY)

NN Investment Partners Holdings N.V. lifted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 236,469 shares of the financial services provider’s stock after purchasing an additional 4,015 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Royal Bank of Canada were worth $18,961,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its position in Royal Bank of Canada by 148.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,843 shares of the financial services provider’s stock valued at $142,000 after buying an additional 1,101 shares during the period. West Coast Financial LLC purchased a new stake in Royal Bank of Canada during the 3rd quarter valued at $203,000. Tuttle Tactical Management purchased a new stake in Royal Bank of Canada during the 2nd quarter valued at $203,000. Moloney Securities Asset Management LLC purchased a new stake in Royal Bank of Canada during the 2nd quarter valued at $222,000. Finally, New England Asset Management Inc. purchased a new stake in Royal Bank of Canada during the 2nd quarter valued at $223,000. 40.04% of the stock is currently owned by institutional investors.

NYSE:RY opened at $72.75 on Wednesday. Royal Bank of Canada has a 12 month low of $71.01 and a 12 month high of $87.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $103.95 billion, a PE ratio of 12.00, a P/E/G ratio of 1.43 and a beta of 1.15.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 22nd. The financial services provider reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.04. Royal Bank of Canada had a net margin of 21.48% and a return on equity of 18.11%. The firm had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.39 billion. As a group, research analysts forecast that Royal Bank of Canada will post 6.55 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Thursday, October 25th will be given a $0.753 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.14%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.17%.

Several equities research analysts have weighed in on RY shares. Zacks Investment Research raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. ValuEngine cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Howard Weil raised shares of Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, September 10th. Scotiabank raised shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 10th. Finally, Scotia Howard Weill raised shares of Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, September 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $97.20.

About Royal Bank of Canada

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

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

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