Triasima Portfolio Management inc. Grows Stake in Royal Bank of Canada (NYSE:RY)

Triasima Portfolio Management inc. increased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 871,119 shares of the financial services provider’s stock after acquiring an additional 31,657 shares during the period. Royal Bank of Canada comprises 8.5% of Triasima Portfolio Management inc.’s portfolio, making the stock its biggest position. Triasima Portfolio Management inc. owned about 0.06% of Royal Bank of Canada worth $92,700,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new position in Royal Bank of Canada in the 2nd quarter worth about $27,000. Mather Group LLC. purchased a new position in Royal Bank of Canada during the 1st quarter worth $49,000. Nisa Investment Advisors LLC raised its position in Royal Bank of Canada by 293.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 379 shares in the last quarter. Heritage Wealth Advisors purchased a new stake in shares of Royal Bank of Canada in the 4th quarter worth $61,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Royal Bank of Canada by 192.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 716 shares of the financial services provider’s stock worth $72,000 after buying an additional 471 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on RY shares. BMO Capital Markets lifted their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Scotiabank upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th. UBS Group assumed coverage on shares of Royal Bank of Canada in a report on Tuesday, July 2nd. They set a “buy” rating on the stock. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. Finally, Argus lifted their price target on Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Stock Down 0.5 %

NYSE RY traded down $0.56 on Friday, hitting $120.93. The stock had a trading volume of 759,529 shares, compared to its average volume of 1,035,852. The business’s fifty day moving average price is $112.08 and its 200 day moving average price is $105.35. The stock has a market cap of $171.12 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $122.91.

Royal Bank of Canada Cuts Dividend

The firm 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. This represents a $4.11 annualized dividend and a yield of 3.40%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is currently 51.49%.

About Royal Bank of Canada

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.