Pacifica Partners Inc. Cuts Position in Royal Bank of Canada (NYSE:RY)

Pacifica Partners Inc. decreased its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,788 shares of the financial services provider’s stock after selling 985 shares during the period. Royal Bank of Canada comprises approximately 2.1% of Pacifica Partners Inc.’s portfolio, making the stock its 13th largest position. Pacifica Partners Inc.’s holdings in Royal Bank of Canada were worth $5,100,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Mount Yale Investment Advisors LLC grew its stake in shares of Royal Bank of Canada by 1.6% during the second quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 92 shares in the last quarter. Shell Asset Management Co. raised its holdings in shares of Royal Bank of Canada by 3.8% in the first quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock valued at $274,000 after buying an additional 100 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Royal Bank of Canada by 1.9% in the second quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock valued at $562,000 after buying an additional 100 shares during the last quarter. Muirfield Wealth Advisors LLC raised its holdings in Royal Bank of Canada by 0.6% during the second quarter. Muirfield Wealth Advisors LLC now owns 16,437 shares of the financial services provider’s stock worth $1,749,000 after purchasing an additional 101 shares in the last quarter. Finally, Sollinda Capital Management LLC raised its holdings in Royal Bank of Canada by 2.8% during the second quarter. Sollinda Capital Management LLC now owns 3,674 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

RY has been the topic of several recent analyst reports. BMO Capital Markets upped their target price 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 lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Finally, UBS Group began coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Stock Performance

NYSE:RY opened at $121.73 on Tuesday. 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 firm 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. The firm’s fifty day simple moving average is $117.35 and its 200 day simple moving average is $108.86. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $125.28.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data 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 firm had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. As a group, equities research analysts expect that Royal Bank of Canada will post 8.97 earnings per share 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 given a $1.028 dividend. This represents a $4.11 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s payout ratio is currently 51.99%.

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.