Fiera Capital Corp Buys 171,125 Shares of Royal Bank of Canada (NYSE:RY)

Fiera Capital Corp raised its position in Royal Bank of Canada (NYSE:RYFree Report) (TSE:RY) by 3.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 4,759,385 shares of the financial services provider’s stock after purchasing an additional 171,125 shares during the period. Royal Bank of Canada accounts for approximately 1.8% of Fiera Capital Corp’s portfolio, making the stock its 16th largest position. Fiera Capital Corp’s holdings in Royal Bank of Canada were worth $594,791,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of RY. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada during the third quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Royal Bank of Canada by 110.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after buying an additional 118 shares during the last quarter. Grove Bank & Trust purchased a new position in Royal Bank of Canada during the 3rd quarter worth $28,000. Ridgewood Investments LLC purchased a new stake in shares of Royal Bank of Canada in the second quarter valued at about $27,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Royal Bank of Canada in the 2nd quarter valued at about $33,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE:RY traded down $1.30 during trading on Friday, reaching $123.25. The company had a trading volume of 90,572 shares, compared to its average volume of 1,075,914. Royal Bank of Canada has a 12 month low of $83.57 and a 12 month high of $126.96. 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 company has a fifty day moving average of $123.03 and a two-hundred day moving average of $112.60. The stock has a market capitalization of $174.23 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.88 and a beta of 0.86.

Royal Bank of Canada (NYSE:RYGet Free Report) (TSE:RY) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $10.40 billion. Equities research analysts forecast that Royal Bank of Canada will post 8.88 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be issued 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 3.34%. Royal Bank of Canada’s dividend payout ratio is currently 50.79%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RY. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. BMO Capital Markets lifted their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Check Out Our Latest Stock Report on RY

About Royal Bank of Canada

(Free Report)

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.

Further Reading

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

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