Natixis Advisors LLC Acquires 9,535 Shares of Royal Bank of Canada (NYSE:RY)

Natixis Advisors LLC boosted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 8.8% in the 2nd quarter, Holdings Channel reports. The firm owned 117,608 shares of the financial services provider’s stock after buying an additional 9,535 shares during the quarter. Natixis Advisors LLC’s holdings in Royal Bank of Canada were worth $12,511,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Canoe Financial LP lifted its stake in Royal Bank of Canada by 11,061.2% in the fourth quarter. Canoe Financial LP now owns 151,142,403 shares of the financial services provider’s stock worth $15,285,031,000 after purchasing an additional 149,788,224 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 worth $5,618,566,000 after purchasing an additional 964,898 shares during the last quarter. TD Asset Management Inc lifted its stake in Royal Bank of Canada by 21.7% in the fourth quarter. TD Asset Management Inc now owns 32,571,491 shares of the financial services provider’s stock worth $3,310,010,000 after purchasing an additional 5,810,077 shares during the last quarter. Bank of Nova Scotia lifted its stake in Royal Bank of Canada by 5.1% in the fourth quarter. Bank of Nova Scotia now owns 28,024,917 shares of the financial services provider’s stock worth $2,834,219,000 after purchasing an additional 1,357,956 shares during the last quarter. Finally, FIL Ltd increased its position in shares of Royal Bank of Canada by 1.8% during the fourth quarter. FIL Ltd now owns 18,790,164 shares of the financial services provider’s stock worth $1,900,217,000 after acquiring an additional 333,333 shares during the period. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on RY shares. UBS Group started coverage on shares of Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating on the stock. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Argus raised their target price on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Jefferies Financial Group raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Finally, BMO Capital Markets lifted their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $122.10 on Thursday. The firm has a market cap of $172.78 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 1.98 and a beta of 0.86. The company’s 50 day moving average is $111.49 and its 200 day moving average is $105.02. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $122.28.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be issued a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a yield of 3.37%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is 51.49%.

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.