PNC Financial Services Group Inc. Acquires 4,980 Shares of Royal Bank of Canada (NYSE:RY)

PNC Financial Services Group Inc. lifted its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 6.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,045 shares of the financial services provider's stock after acquiring an additional 4,980 shares during the period. PNC Financial Services Group Inc.'s holdings in Royal Bank of Canada were worth $10,483,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Royal Bank of Canada by 110.3% in 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 acquiring an additional 118 shares in the last quarter. Grove Bank & Trust bought a new position in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $28,000. Ridgewood Investments LLC bought a new position in shares of Royal Bank of Canada in the 2nd quarter valued at approximately $27,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Royal Bank of Canada in the 2nd quarter valued at approximately $33,000. 45.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

RY has been the topic of a number of recent analyst reports. Barclays raised Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research note on Thursday. TD Securities downgraded Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Finally, BMO Capital Markets upped their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $142.50.

Royal Bank of Canada Stock Down 0.1 %

NYSE RY opened at $125.02 on Friday. Royal Bank of Canada has a twelve month low of $85.02 and a twelve month high of $126.96. The stock has a market cap of $176.74 billion, a PE ratio of 15.12, a PEG ratio of 1.93 and a beta of 0.86. The firm has a 50-day simple moving average of $123.39 and a 200 day simple moving average of $114.56. 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 announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.23. The company had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. On average, research analysts forecast that Royal Bank of Canada will post 8.37 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th were paid a dividend of $1.028 per share. The ex-dividend date was Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.29%. Royal Bank of Canada's dividend payout ratio is currently 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.