Bank of New York Mellon Corp Has $196.99 Million Stock Holdings in Royal Bank Of Canada $RY

Bank of New York Mellon Corp lessened its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,337,132 shares of the financial services provider’s stock after selling 8,783 shares during the quarter. Bank of New York Mellon Corp’s holdings in Royal Bank Of Canada were worth $196,986,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RY. Advisory Resource Group raised its holdings in shares of Royal Bank Of Canada by 0.8% during the third quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider’s stock worth $1,342,000 after acquiring an additional 75 shares during the period. Ballentine Partners LLC increased its holdings in Royal Bank Of Canada by 1.5% during the 3rd quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock worth $759,000 after purchasing an additional 75 shares in the last quarter. Brucke Financial Inc. raised its stake in shares of Royal Bank Of Canada by 1.9% in the 2nd quarter. Brucke Financial Inc. now owns 4,264 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 79 shares during the period. Benjamin Edwards Inc. lifted its holdings in shares of Royal Bank Of Canada by 2.6% in the third quarter. Benjamin Edwards Inc. now owns 3,247 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 81 shares in the last quarter. Finally, Choreo LLC lifted its holdings in shares of Royal Bank Of Canada by 4.2% in the second quarter. Choreo LLC now owns 2,088 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 84 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RY has been the topic of a number of recent research reports. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. National Bankshares reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, December 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Monday, November 24th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Stock Down 1.5%

Shares of RY opened at $166.22 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $174.61. The firm’s 50 day moving average is $165.94 and its 200-day moving average is $150.35. The stock has a market capitalization of $232.29 billion, a PE ratio of 16.57, a P/E/G ratio of 1.20 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The business had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $12.12 billion. During the same quarter in the prior year, the business posted $3.07 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. Equities research analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be given a $1.64 dividend. The ex-dividend date is Monday, January 26th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.9%. Royal Bank Of Canada’s dividend payout ratio (DPR) is 47.66%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.