Royal Bank of Canada (NYSE:RY) Position Trimmed by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co decreased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 37.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 133,700 shares of the financial services provider’s stock after selling 81,655 shares during the quarter. Royal Bank of Canada comprises 2.9% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 4th largest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Royal Bank of Canada were worth $16,479,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RY. Orion Portfolio Solutions LLC lifted its holdings in shares of Royal Bank of Canada by 47.4% during the first quarter. Orion Portfolio Solutions LLC now owns 16,494 shares of the financial services provider’s stock worth $1,664,000 after buying an additional 5,302 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Royal Bank of Canada by 91.3% in the first quarter. UniSuper Management Pty Ltd now owns 19,900 shares of the financial services provider’s stock valued at $2,008,000 after purchasing an additional 9,500 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Royal Bank of Canada by 1.8% in the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after purchasing an additional 190,341 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in Royal Bank of Canada by 53.0% during the first quarter. Maryland State Retirement & Pension System now owns 73,036 shares of the financial services provider’s stock worth $7,038,000 after acquiring an additional 25,299 shares in the last quarter. Finally, Creative Planning raised its stake in Royal Bank of Canada by 6.4% during the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock worth $26,369,000 after acquiring an additional 12,693 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 1.0 %

Royal Bank of Canada stock traded down $1.26 during mid-day trading on Thursday, hitting $123.92. The stock had a trading volume of 81,889 shares, compared to its average volume of 1,071,071. The stock has a 50-day simple moving average of $121.28 and a two-hundred day simple moving average of $110.95. The stock has a market capitalization of $175.18 billion, a PE ratio of 15.14, a P/E/G ratio of 2.06 and a beta of 0.86. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $126.96. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. As a group, sell-side analysts forecast that Royal Bank of Canada will post 8.91 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. Investors of record on Thursday, October 24th will be given a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is presently 50.18%.

Analyst Ratings Changes

Several analysts have recently commented on RY shares. BMO Capital Markets increased their target price 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. UBS Group started coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They set a “buy” rating on the stock. Finally, StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.50.

About Royal Bank of Canada

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.