Pathway Financial Advisers LLC Has $964,000 Stock Holdings in Royal Bank of Canada (NYSE:RY)

Pathway Financial Advisers LLC boosted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,726 shares of the financial services provider’s stock after buying an additional 165 shares during the period. Pathway Financial Advisers LLC’s holdings in Royal Bank of Canada were worth $964,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC increased its holdings in shares of Royal Bank of Canada by 10.3% in the 1st quarter. Park Avenue Securities LLC now owns 2,769 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 259 shares during the period. Kathmere Capital Management LLC lifted its position in Royal Bank of Canada by 5.7% in the 1st quarter. Kathmere Capital Management LLC now owns 2,981 shares of the financial services provider’s stock worth $301,000 after buying an additional 160 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Royal Bank of Canada by 32.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,269 shares of the financial services provider’s stock worth $128,000 after buying an additional 314 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Royal Bank of Canada during the 1st quarter valued at $86,000. Finally, Applied Capital LLC FL grew its holdings in shares of Royal Bank of Canada by 0.8% during the 1st quarter. Applied Capital LLC FL now owns 17,148 shares of the financial services provider’s stock valued at $1,730,000 after acquiring an additional 142 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Performance

RY opened at $122.46 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $173.29 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 2.05 and a beta of 0.86. The stock has a 50-day moving average of $121.75 and a 200-day moving average of $111.23. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $10.40 billion. As a group, equities research analysts forecast that Royal Bank of Canada will post 8.91 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be issued a $1.028 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 annualized dividend and a yield of 3.36%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.99%.

Analysts Set New Price Targets

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

Royal Bank of Canada Company 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.