Royal Bank of Canada (NYSE:RY) Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 26,466 shares of the financial services provider’s stock after acquiring an additional 493 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Royal Bank of Canada were worth $2,815,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of RY. Orion Portfolio Solutions LLC lifted its position in Royal Bank of Canada by 47.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 16,494 shares of the financial services provider’s stock worth $1,664,000 after acquiring an additional 5,302 shares in the last quarter. Barometer Capital Management Inc. acquired a new stake in Royal Bank of Canada during the 4th quarter valued at $1,984,000. UniSuper Management Pty Ltd increased its stake in Royal Bank of Canada by 91.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 19,900 shares of the financial services provider’s stock worth $2,008,000 after buying an additional 9,500 shares during the period. Maryland State Retirement & Pension System lifted its holdings in Royal Bank of Canada by 53.0% in the 1st quarter. Maryland State Retirement & Pension System now owns 73,036 shares of the financial services provider’s stock worth $7,038,000 after buying an additional 25,299 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Royal Bank of Canada by 1.8% in the 2nd 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 buying an additional 190,341 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RY. 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. UBS Group assumed coverage on Royal Bank of Canada in a research note on Tuesday, July 2nd. They set a “buy” rating on the stock. BMO Capital Markets lifted their target price on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Argus upped their price target on Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, one has assigned 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, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Price Performance

NYSE RY opened at $121.39 on Friday. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $125.28. The firm has a market capitalization of $171.78 billion, a PE ratio of 15.06, a P/E/G ratio of 2.02 and a beta of 0.86. The company’s 50 day simple moving average is $117.12 and its 200 day simple moving average is $108.57. 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) (TSE:RY) last posted 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. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The company had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. As a group, equities research analysts forecast that Royal Bank of Canada will post 8.97 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be issued a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is 52.11%.

Royal Bank of Canada Company 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.