Altrius Capital Management Inc Cuts Stake in Royal Bank of Canada (NYSE:RY)

Altrius Capital Management Inc decreased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,311 shares of the financial services provider’s stock after selling 3,349 shares during the quarter. Royal Bank of Canada accounts for about 2.3% of Altrius Capital Management Inc’s investment portfolio, making the stock its biggest position. Altrius Capital Management Inc’s holdings in Royal Bank of Canada were worth $9,144,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of RY. National Bank of Canada FI lifted its holdings in Royal Bank of Canada by 16.7% during the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $2,141,681,000 after buying an additional 2,901,033 shares during the period. Capital World Investors lifted its holdings in shares of Royal Bank of Canada by 75.0% during the 1st quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider’s stock valued at $637,460,000 after purchasing an additional 2,708,534 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Royal Bank of Canada by 40.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,039,171 shares of the financial services provider’s stock valued at $508,739,000 after purchasing an additional 1,452,127 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at $153,217,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Royal Bank of Canada by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 55,695,544 shares of the financial services provider’s stock valued at $5,618,566,000 after purchasing an additional 964,898 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 1.1 %

Shares of NYSE RY traded down $1.29 during midday trading on Friday, reaching $121.10. 129,248 shares of the stock were exchanged, compared to its average volume of 1,088,007. Royal Bank of Canada has a twelve month low of $85.02 and a twelve month high of $126.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The company has a 50 day simple moving average of $123.36 and a 200 day simple moving average of $113.56. The stock has a market capitalization of $171.20 billion, a P/E ratio of 14.66, a PEG ratio of 1.89 and a beta of 0.86.

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 EPS for the quarter, topping the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. As a group, equities analysts expect that Royal Bank of Canada will post 8.88 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.40%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.79%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday. BMO Capital Markets increased their price target on 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. Finally, StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average target price of $142.50.

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.