Bragg Financial Advisors Inc Acquires 3,060 Shares of Royal Bank of Canada (NYSE:RY)

Bragg Financial Advisors Inc raised its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,289 shares of the financial services provider’s stock after purchasing an additional 3,060 shares during the quarter. Bragg Financial Advisors Inc’s holdings in Royal Bank of Canada were worth $4,933,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc boosted its stake in shares of Royal Bank of Canada by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 37,561,144 shares of the financial services provider’s stock worth $3,012,028,000 after buying an additional 981,890 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Royal Bank of Canada during the fourth quarter valued at $38,000. Advisors Asset Management Inc. lifted its position in Royal Bank of Canada by 28.8% during the fourth quarter. Advisors Asset Management Inc. now owns 3,426 shares of the financial services provider’s stock valued at $235,000 after purchasing an additional 767 shares in the last quarter. SG Americas Securities LLC purchased a new position in Royal Bank of Canada during the fourth quarter valued at $120,000. Finally, Alerus Financial NA lifted its position in Royal Bank of Canada by 8.7% during the fourth quarter. Alerus Financial NA now owns 42,859 shares of the financial services provider’s stock valued at $2,937,000 after purchasing an additional 3,416 shares in the last quarter. Institutional investors own 41.56% of the company’s stock.

Several equities analysts recently weighed in on RY shares. Zacks Investment Research upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a research report on Friday, May 17th. Desjardins reiterated a “buy” rating and set a $111.00 target price on shares of Royal Bank of Canada in a research report on Thursday, May 16th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Royal Bank of Canada currently has a consensus rating of “Hold” and a consensus price target of $99.25.

Shares of Royal Bank of Canada stock traded up $0.41 during trading hours on Friday, hitting $79.40. The company’s stock had a trading volume of 703,024 shares, compared to its average volume of 870,628. The stock has a 50 day moving average price of $77.72. Royal Bank of Canada has a 12-month low of $65.76 and a 12-month high of $81.56. The firm has a market cap of $114.13 billion, a P/E ratio of 12.16, a PEG ratio of 2.07 and a beta of 1.09. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 23rd. The financial services provider reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.04. Royal Bank of Canada had a return on equity of 17.36% and a net margin of 20.04%. The business had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $7.60 billion. During the same period in the previous year, the business earned $2.06 earnings per share. As a group, analysts predict that Royal Bank of Canada will post 6.7 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be given a $0.7596 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $3.04 annualized dividend and a dividend yield of 3.83%. Royal Bank of Canada’s payout ratio is 46.86%.

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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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

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