Royal Bank of Canada (NYSE:RY) Shares Bought by Forsta AP Fonden

Forsta AP Fonden grew its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 10.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 343,500 shares of the financial services provider's stock after buying an additional 32,900 shares during the period. Forsta AP Fonden's holdings in Royal Bank of Canada were worth $42,920,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RY. Ridgewood Investments LLC purchased a new position in shares of Royal Bank of Canada during the 2nd quarter valued at about $27,000. Grove Bank & Trust bought a new position in shares of Royal Bank of Canada during the 3rd quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of 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. Ashton Thomas Private Wealth LLC bought a new position in shares of Royal Bank of Canada during the 2nd quarter valued at approximately $33,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Royal Bank of Canada by 293.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 379 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Down 0.9 %

Shares of RY stock traded down $1.07 during mid-day trading on Friday, hitting $122.46. The stock had a trading volume of 3,608,422 shares, compared to its average volume of 1,074,674. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $126.96. The firm has a market capitalization of $173.29 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 2.05 and a beta of 0.86. The firm's 50-day moving average is $121.75 and its two-hundred day moving average is $111.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last issued 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 business had revenue of $10.68 billion during the quarter, compared to analysts' expectations of $10.40 billion. On average, analysts predict that Royal Bank of Canada will post 8.91 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. Investors of record on Thursday, October 24th will be paid a dividend of $1.028 per share. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada's dividend payout ratio (DPR) is currently 51.99%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group assumed coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They set a "buy" rating for the company. BMO Capital Markets boosted their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. Finally, StockNews.com cut Royal Bank of Canada from a "hold" rating to a "sell" rating in a 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 given a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.50.

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.