Blair William & Co. IL Reduces Holdings in Royal Bank of Canada (NYSE:RY)

Blair William & Co. IL lowered its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 22,558 shares of the financial services provider’s stock after selling 408 shares during the quarter. Blair William & Co. IL’s holdings in Royal Bank of Canada were worth $2,400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Corient Private Wealth LLC raised its holdings in Royal Bank of Canada by 16.8% during the 4th quarter. Corient Private Wealth LLC now owns 35,993 shares of the financial services provider’s stock valued at $3,640,000 after acquiring an additional 5,164 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Royal Bank of Canada by 192.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 716 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 471 shares in the last quarter. US Bancorp DE boosted its stake in Royal Bank of Canada by 0.3% in the 4th quarter. US Bancorp DE now owns 89,236 shares of the financial services provider’s stock worth $9,024,000 after purchasing an additional 286 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Royal Bank of Canada by 17.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 11,192 shares of the financial services provider’s stock valued at $1,134,000 after buying an additional 1,697 shares in the last quarter. Finally, Heritage Wealth Advisors bought a new stake in shares of Royal Bank of Canada during the fourth quarter valued at about $61,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Trading Down 0.9 %

NYSE RY opened at $121.92 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $114.85 and its two-hundred day simple moving average is $107.19. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $124.46. The company has a market capitalization of $172.53 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.00 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share 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 company had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Research analysts forecast that Royal Bank of Canada will post 8.97 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be paid a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.49%.

Wall Street Analyst Weigh In

Several brokerages recently commented on RY. Argus boosted their price objective on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. BMO Capital Markets increased their price objective on 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. UBS Group assumed coverage on Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating for the company. Finally, StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average target price 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.