Royal Bank of Canada (RY) Stake Increased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,703 shares of the financial services provider’s stock after buying an additional 1,287 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Royal Bank of Canada were worth $2,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in RY. Jane Street Group LLC grew its position in Royal Bank of Canada by 94.5% in the 3rd quarter. Jane Street Group LLC now owns 62,741 shares of the financial services provider’s stock valued at $4,853,000 after purchasing an additional 30,491 shares during the period. Cohen & Steers Inc. grew its position in Royal Bank of Canada by 44.7% in the 3rd quarter. Cohen & Steers Inc. now owns 39,144 shares of the financial services provider’s stock valued at $3,022,000 after purchasing an additional 12,089 shares during the period. Payden & Rygel acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at $11,355,000. AMP Capital Investors Ltd grew its position in Royal Bank of Canada by 8.3% in the 3rd quarter. AMP Capital Investors Ltd now owns 723,860 shares of the financial services provider’s stock valued at $55,879,000 after purchasing an additional 55,570 shares during the period. Finally, Allianz Asset Management GmbH grew its position in Royal Bank of Canada by 6.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,957,786 shares of the financial services provider’s stock valued at $151,127,000 after purchasing an additional 110,523 shares during the period. 40.68% of the stock is owned by institutional investors.

Royal Bank of Canada (RY) opened at $79.17 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90. Royal Bank of Canada has a 52 week low of $66.66 and a 52 week high of $80.98. The firm has a market capitalization of $115,578.05, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, January 25th will be paid a dividend of $0.7157 per share. This represents a $2.86 annualized dividend and a yield of 3.62%. The ex-dividend date is Wednesday, January 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.83%.

Several equities analysts have weighed in on RY shares. BMO Capital Markets restated a “hold” rating and set a $102.00 price objective on shares of Royal Bank of Canada in a research note on Wednesday, November 29th. Zacks Investment Research cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Macquarie started coverage on Royal Bank of Canada in a research note on Tuesday, October 24th. They set an “underperform” rating on the stock. BidaskClub upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Finally, Canaccord Genuity restated a “hold” rating and set a $105.00 price objective on shares of Royal Bank of Canada in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $97.75.

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Royal Bank of Canada Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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