Exeter Financial LLC Decreases Stake in Royal Bank of Canada (NYSE:RY)

Exeter Financial LLC lowered its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,851 shares of the financial services provider’s stock after selling 868 shares during the period. Royal Bank of Canada accounts for approximately 1.4% of Exeter Financial LLC’s portfolio, making the stock its 26th biggest holding. Exeter Financial LLC’s holdings in Royal Bank of Canada were worth $3,100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RY. Campbell & CO Investment Adviser LLC purchased a new position in Royal Bank of Canada in the 4th quarter valued at $464,000. Waterloo Capital L.P. raised its holdings in shares of Royal Bank of Canada by 30.2% during the 4th quarter. Waterloo Capital L.P. now owns 3,726 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 865 shares during the period. Logan Capital Management Inc. raised its holdings in shares of Royal Bank of Canada by 39.1% during the 4th quarter. Logan Capital Management Inc. now owns 29,533 shares of the financial services provider’s stock worth $2,987,000 after acquiring an additional 8,302 shares during the period. Barometer Capital Management Inc. purchased a new position in shares of Royal Bank of Canada during the 4th quarter worth $1,984,000. Finally, Power Corp of Canada raised its holdings in shares of Royal Bank of Canada by 1.1% during the 4th quarter. Power Corp of Canada now owns 47,979 shares of the financial services provider’s stock worth $4,860,000 after acquiring an additional 545 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Down 0.6 %

Shares of NYSE:RY opened at $121.73 on Tuesday. The business has a 50-day moving average price of $117.35 and a 200 day moving average price of $108.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $172.26 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 2.00 and a beta of 0.86. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $125.28.

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, beating the consensus estimate of $2.15 by $0.23. The company had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. Sell-side analysts expect that Royal Bank of Canada will post 8.97 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be given a $1.028 dividend. This represents a $4.11 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is currently 51.99%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. BMO Capital Markets lifted their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. Finally, UBS Group began coverage on Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.