Pembroke Management LTD Has $1.31 Million Stock Position in Royal Bank of Canada (NYSE:RY)

Pembroke Management LTD lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 institutional investors also recently modified their holdings of the company. National Bank of Canada FI boosted its position in Royal Bank of Canada by 16.7% during the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $2,141,681,000 after buying an additional 2,901,033 shares during the period. Capital World Investors increased its holdings in 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 purchasing an additional 2,708,534 shares during the period. Canada Pension Plan Investment Board increased its holdings in 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 purchasing an additional 1,452,127 shares during the period. International Assets Investment Management LLC bought a new position in Royal Bank of Canada during the 3rd quarter worth $153,217,000. Finally, Vanguard Group Inc. lifted its holdings in Royal Bank of Canada by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 55,695,544 shares of the financial services provider’s stock worth $5,618,566,000 after buying an additional 964,898 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RY. BMO Capital Markets increased their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Stock Performance

RY stock opened at $121.79 on Friday. The firm 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. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $122.68 and a 200-day moving average price of $112.07. Royal Bank of Canada has a 1-year low of $80.96 and a 1-year high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued 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. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The business had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. As a group, equities research analysts expect that Royal Bank of Canada will post 8.91 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

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

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.