Fiera Capital Corp Has $594.79 Million Stake in Royal Bank of Canada (NYSE:RY)

Fiera Capital Corp increased its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,759,385 shares of the financial services provider's stock after buying an additional 171,125 shares during the period. Royal Bank of Canada comprises 1.8% of Fiera Capital Corp's portfolio, making the stock its 16th largest holding. Fiera Capital Corp owned approximately 0.34% of Royal Bank of Canada worth $594,791,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Royal Bank of Canada by 1.8% in the first quarter. Vanguard Group Inc. now owns 55,695,544 shares of the financial services provider's stock valued at $5,618,566,000 after purchasing an additional 964,898 shares during the period. National Bank of Canada FI lifted its position in Royal Bank of Canada by 16.7% during the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider's stock worth $2,141,681,000 after acquiring an additional 2,901,033 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Royal Bank of Canada by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider's stock worth $1,289,274,000 after acquiring an additional 256,023 shares during the period. Legal & General Group Plc grew its position in Royal Bank of Canada by 1.8% in the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider's stock valued at $1,118,150,000 after acquiring an additional 190,341 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of Royal Bank of Canada by 75.0% during the first quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider's stock valued at $637,460,000 after purchasing an additional 2,708,534 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RY has been the topic of a number of recent analyst reports. BMO Capital Markets increased their target price on Royal Bank of Canada from $151.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, August 29th. 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $142.50.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded down $0.90 on Friday, reaching $123.65. The company's stock had a trading volume of 425,357 shares, compared to its average volume of 1,077,457. The business's fifty day moving average price is $123.19 and its 200 day moving average price is $112.86. The company has a market cap of $174.80 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.88 and a beta of 0.86. Royal Bank of Canada has a twelve month low of $83.57 and a twelve month high of $126.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. Equities analysts expect that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal 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 issued a $1.028 dividend. This represents a $4.11 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada's payout ratio is presently 50.79%.

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.