NBC Securities Inc. Has $45 Million Stock Position in Royal Bank of Canada (NYSE:RY)

NBC Securities Inc. reduced its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 360,806 shares of the financial services provider’s stock after selling 386 shares during the quarter. Royal Bank of Canada comprises about 3.8% of NBC Securities Inc.’s investment portfolio, making the stock its biggest position. NBC Securities Inc.’s holdings in Royal Bank of Canada were worth $45,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in Royal Bank of Canada during the fourth quarter valued at $276,000. Centaurus Financial Inc. raised its position in Royal Bank of Canada by 9.4% in the 4th quarter. Centaurus Financial Inc. now owns 2,560 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 220 shares during the period. PNC Financial Services Group Inc. raised its position in Royal Bank of Canada by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 80,677 shares of the financial services provider’s stock worth $8,159,000 after purchasing an additional 4,476 shares during the period. Mather Group LLC. bought a new stake in Royal Bank of Canada in the first quarter worth about $49,000. Finally, KMG Fiduciary Partners LLC boosted its position in shares of Royal Bank of Canada by 3.8% during the first quarter. KMG Fiduciary Partners LLC now owns 14,979 shares of the financial services provider’s stock valued at $1,511,000 after buying an additional 543 shares during the period. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RY. UBS Group initiated coverage on Royal Bank of Canada in a research note on Tuesday, July 2nd. They set a “buy” rating for the company. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Finally, BMO Capital Markets upped their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Stock Up 0.1 %

Shares of RY stock traded up $0.10 during mid-day trading on Tuesday, hitting $123.53. The stock had a trading volume of 83,364 shares, compared to its average volume of 1,046,004. The firm has a market capitalization of $174.80 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 1.99 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 12-month low of $77.90 and a 12-month high of $125.28. The firm’s 50-day moving average is $118.92 and its two-hundred day moving average is $109.80.

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 (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.23. The company had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. On average, analysts predict that Royal Bank of Canada will post 8.91 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be issued a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a yield of 3.33%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is 51.99%.

Royal Bank of Canada 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.