Citigroup Inc. Increases Holdings in Royal Bank of Canada (NYSE:RY)

Citigroup Inc. boosted its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 311,146 shares of the financial services provider’s stock after buying an additional 40,178 shares during the period. Citigroup Inc.’s holdings in Royal Bank of Canada were worth $38,877,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RY. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada during the 3rd quarter worth $25,000. Ridgewood Investments LLC purchased a new stake in Royal Bank of Canada in the second quarter worth about $27,000. Grove Bank & Trust bought a new position in Royal Bank of Canada during the 3rd quarter worth about $28,000. Whittier Trust Co. of Nevada Inc. increased its position in 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 period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Royal Bank of Canada in the 2nd quarter worth approximately $33,000. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Price Performance

Shares of RY opened at $125.08 on Monday. The company has a 50 day moving average of $123.39 and a two-hundred day moving average of $114.74. The company has a market cap of $176.82 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.93 and a beta of 0.86. 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 twelve month low of $85.02 and a twelve month high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced 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 firm had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. As a group, analysts predict that Royal Bank of Canada will post 8.37 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, October 24th were paid a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.67%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RY. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. BMO Capital Markets lifted their price target 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, Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to 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 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.