EP Wealth Advisors LLC Sells 347 Shares of Royal Bank of Canada (NYSE:RY)

EP Wealth Advisors LLC trimmed its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 11.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,705 shares of the financial services provider’s stock after selling 347 shares during the quarter. EP Wealth Advisors LLC’s holdings in Royal Bank of Canada were worth $288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ridgewood Investments LLC bought a new position in Royal Bank of Canada during the 2nd quarter worth $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Royal Bank of Canada in the 2nd quarter valued at about $33,000. Mather Group LLC. bought a new stake in Royal Bank of Canada in the 1st quarter valued at about $49,000. Nisa Investment Advisors LLC increased its holdings in shares of Royal Bank of Canada by 293.8% during the second quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 379 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Royal Bank of Canada during the first quarter worth approximately $86,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Trading Up 0.8 %

RY opened at $122.42 on Friday. The company has a market cap of $173.23 billion, a P/E ratio of 15.19, a PEG ratio of 2.02 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. The company’s 50 day moving average is $117.35 and its 200-day moving average is $108.73. Royal Bank of Canada has a 1-year low of $77.90 and a 1-year high of $125.28.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted 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 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 analysts’ expectations of $10.40 billion. Equities research analysts predict that Royal Bank of Canada will post 8.97 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be paid a dividend of $1.028 per share. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is 52.11%.

Wall Street Analyst Weigh In

RY has been the topic of a number of recent research reports. UBS Group initiated coverage on Royal Bank of Canada in a research note on Tuesday, July 2nd. They set a “buy” rating on the stock. BMO Capital Markets boosted their price target on 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, StockNews.com downgraded shares of 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 assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.