Pathway Financial Advisers LLC Sells 130 Shares of Royal Bank of Canada (NYSE:RY)

Pathway Financial Advisers LLC lowered its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,561 shares of the financial services provider’s stock after selling 130 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Royal Bank of Canada were worth $802,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Royal Bank of Canada by 1.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 26,466 shares of the financial services provider’s stock valued at $2,815,000 after acquiring an additional 493 shares during the period. Creative Planning lifted its stake in Royal Bank of Canada by 8.5% in the 2nd quarter. Creative Planning now owns 198,718 shares of the financial services provider’s stock worth $21,140,000 after purchasing an additional 15,554 shares in the last quarter. Kathmere Capital Management LLC lifted its stake in Royal Bank of Canada by 18.2% in the 2nd quarter. Kathmere Capital Management LLC now owns 3,524 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 543 shares in the last quarter. Arkos Global Advisors bought a new position in Royal Bank of Canada in the 2nd quarter valued at $201,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Royal Bank of Canada during the 2nd quarter valued at $3,787,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Up 0.4 %

Shares of NYSE RY opened at $124.72 on Tuesday. The stock has a market capitalization of $176.49 billion, a P/E ratio of 15.47, a PEG ratio of 2.01 and a beta of 0.86. Royal Bank of Canada has a one year low of $77.90 and a one year high of $125.11. The firm’s 50 day simple moving average is $116.37 and its two-hundred day simple moving average is $108.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The company had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. As a group, analysts expect 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. Investors of record on Thursday, October 24th will be issued a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is presently 52.11%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RY shares. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. UBS Group started coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They set a “buy” rating for the company. BMO Capital Markets raised their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Argus increased their price target on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average price target 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.