M Holdings Securities Inc. Acquires 2,763 Shares of Royal Bank Of Canada $RY

M Holdings Securities Inc. acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,763 shares of the financial services provider’s stock, valued at approximately $564,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Nova Scotia acquired a new stake in shares of Royal Bank Of Canada in the 2nd quarter valued at about $2,549,157,000. The Manufacturers Life Insurance Company grew its stake in Royal Bank Of Canada by 2.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 12,130,512 shares of the financial services provider’s stock worth $1,959,185,000 after buying an additional 250,859 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Royal Bank Of Canada during the second quarter worth approximately $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Royal Bank Of Canada during the second quarter worth approximately $2,260,820,000. Finally, Legal & General Group Plc purchased a new stake in Royal Bank Of Canada in the second quarter valued at approximately $1,645,758,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Down 0.8%

Royal Bank Of Canada stock opened at $202.56 on Wednesday. The stock has a 50 day moving average of $201.41 and a two-hundred day moving average of $190.37. Royal Bank Of Canada has a twelve month low of $144.56 and a twelve month high of $218.57. The stock has a market capitalization of $280.35 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.69 and a beta of 0.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. The business had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.98 billion. As a group, research analysts expect that Royal Bank Of Canada will post 11.83 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be given a C$1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 43.31%.

Wall Street Analysts Forecast Growth

RY has been the subject of several research analyst reports. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. Keefe, Bruyette & Woods initiated coverage on shares of Royal Bank Of Canada in a research report on Friday, August 21st. They issued a “market perform” rating for the company. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $227.00.

About Royal Bank Of Canada

Royal Bank of Canada (RBC) is a diversified financial services company founded in 1864 and headquartered in Toronto, Ontario. It provides personal and commercial banking, wealth management, insurance, investor and treasury services, and capital markets services to individuals, businesses, institutions, and governments. In Canada, RBC offers banking products such as deposit accounts, loans, mortgages, credit cards, and financial advice. Its wealth management and insurance businesses provide investment, advisory, and protection services, while its capital markets operations serve corporate and institutional clients.