Pembroke Management LTD Purchases 384 Shares of Royal Bank of Canada (NYSE:RY)

Pembroke Management LTD grew its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 10,492 shares of the financial services provider’s stock after buying an additional 384 shares during the period. Pembroke Management LTD’s holdings in Royal Bank of Canada were worth $1,309,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Bank of Canada FI grew its position in Royal Bank of Canada by 16.7% in the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock valued at $2,141,681,000 after purchasing an additional 2,901,033 shares during the period. Capital World Investors lifted its stake in shares of Royal Bank of Canada by 75.0% in the first quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider’s stock valued at $637,460,000 after buying an additional 2,708,534 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Royal Bank of Canada by 40.5% in the first quarter. Canada Pension Plan Investment Board now owns 5,039,171 shares of the financial services provider’s stock valued at $508,739,000 after buying an additional 1,452,127 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Royal Bank of Canada during the third quarter valued at about $153,217,000. Finally, Vanguard Group Inc. increased its position in shares of Royal Bank of Canada by 1.8% during 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 acquiring an additional 964,898 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Up 0.7 %

Royal Bank of Canada stock opened at $121.79 on Friday. Royal Bank of Canada has a fifty-two week low of $80.96 and a fifty-two week high of $126.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s 50-day simple moving average is $122.68 and its 200 day simple moving average is $112.07. The stock has a market cap of $172.17 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86.

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 analysts’ consensus estimates of $2.15 by $0.23. The firm had revenue of $10.68 billion for 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%. Research analysts predict that Royal Bank of Canada will post 8.91 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a $1.028 dividend. The ex-dividend date is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.38%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.67%.

Analyst Upgrades and Downgrades

RY has been the topic of several recent research reports. BMO Capital Markets raised their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada has an average 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.