Fiera Capital Corp Has $594.79 Million Stock Position in Royal Bank of Canada (NYSE:RY)

Fiera Capital Corp grew its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,759,385 shares of the financial services provider’s stock after acquiring an additional 171,125 shares during the period. Royal Bank of Canada accounts for 1.8% of Fiera Capital Corp’s investment portfolio, making the stock its 16th biggest holding. Fiera Capital Corp owned 0.34% of Royal Bank of Canada worth $594,791,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RY. Allspring Global Investments Holdings LLC acquired a new stake in shares of Royal Bank of Canada in the first quarter worth about $86,000. Private Advisor Group LLC lifted its stake in Royal Bank of Canada by 9.6% during the first quarter. Private Advisor Group LLC now owns 5,956 shares of the financial services provider’s stock worth $601,000 after purchasing an additional 521 shares during the period. Atomi Financial Group Inc. lifted its position in shares of Royal Bank of Canada by 59.2% during the 1st quarter. Atomi Financial Group Inc. now owns 5,468 shares of the financial services provider’s stock worth $552,000 after buying an additional 2,034 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Royal Bank of Canada by 3.9% in the 1st quarter. Russell Investments Group Ltd. now owns 992,728 shares of the financial services provider’s stock valued at $100,192,000 after purchasing an additional 36,982 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in Royal Bank of Canada by 2.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,225 shares of the financial services provider’s stock worth $527,000 after buying an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Down 1.0 %

Shares of NYSE:RY traded down $1.30 during trading on Friday, hitting $123.25. 90,572 shares of the company were exchanged, compared to its average volume of 1,075,914. The stock has a market cap of $174.23 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.88 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a fifty-two week low of $83.57 and a fifty-two week high of $126.96. The firm has a fifty day moving average price of $123.03 and a two-hundred day moving average price of $112.60.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. The firm had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. As a group, research analysts anticipate that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be given a dividend of $1.028 per share. The ex-dividend date is Thursday, October 24th. This represents a $4.11 annualized dividend and a yield of 3.34%. Royal Bank of Canada’s dividend payout ratio is currently 50.79%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.50.

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.