MANA Advisors LLC purchased a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 20,446 shares of the financial services provider’s stock, valued at approximately $1,669,000. Royal Bank of Canada accounts for about 0.7% of MANA Advisors LLC’s portfolio, making the stock its 17th largest position.
Several other institutional investors have also recently modified their holdings of the company. Delpha Capital Management LLC acquired a new position in Royal Bank of Canada in the 4th quarter valued at approximately $151,000. Fieldpoint Private Securities LLC acquired a new stake in shares of Royal Bank of Canada during the third quarter worth $153,000. Holderness Investments Co. acquired a new stake in shares of Royal Bank of Canada during the third quarter worth $203,000. Private Advisor Group LLC acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth $203,000. Finally, Cypress Capital Management LLC acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth $204,000. 42.85% of the stock is owned by institutional investors.
Royal Bank of Canada (NYSE:RY) traded down $0.05 on Wednesday, hitting $78.41. 710,519 shares of the company were exchanged, compared to its average volume of 924,368. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.89 and a quick ratio of 0.89. Royal Bank of Canada has a one year low of $66.66 and a one year high of $87.10. The company has a market capitalization of $114,660.00, a price-to-earnings ratio of 13.61, a P/E/G ratio of 1.41 and a beta of 1.12.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Friday, February 23rd. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.15. Royal Bank of Canada had a net margin of 21.64% and a return on equity of 17.60%. The company had revenue of $10.83 billion for the quarter, compared to analyst estimates of $9.98 billion. During the same period last year, the firm earned $1.83 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. analysts predict that Royal Bank of Canada will post 6.66 earnings per share for the current year.
Royal Bank of Canada announced that its board has initiated a share repurchase program on Friday, February 23rd that authorizes the company to buyback 30,000,000 shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 24th. Investors of record on Wednesday, April 25th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Tuesday, April 24th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.72. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.00%.
Several equities research analysts have recently weighed in on RY shares. Zacks Investment Research upgraded shares of Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Wednesday, February 14th. Bank of America upgraded shares of Royal Bank of Canada from a “neutral” rating to a “buy” rating in a report on Tuesday, January 30th. Argus raised their price target on shares of Royal Bank of Canada to $94.00 and gave the stock a “buy” rating in a report on Friday, January 5th. They noted that the move was a valuation call. ValuEngine cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Thursday, March 8th. Finally, BMO Capital Markets restated a “hold” rating and issued a $102.00 price target on shares of Royal Bank of Canada in a report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $98.60.
COPYRIGHT VIOLATION NOTICE: “MANA Advisors LLC Acquires Shares of 20,446 Royal Bank of Canada (RY)” was first published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of international trademark and copyright legislation. The original version of this news story can be read at https://www.thelincolnianonline.com/2018/03/14/20446-shares-in-royal-bank-of-canada-ry-purchased-by-mana-advisors-llc.html.
Royal Bank of Canada Profile
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.