Harvest Portfolios Group Inc. Sells 2,052 Shares of Royal Bank of Canada (NYSE:RY)

Harvest Portfolios Group Inc. reduced its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 8.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,241 shares of the financial services provider’s stock after selling 2,052 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Royal Bank of Canada were worth $2,901,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Orion Portfolio Solutions LLC lifted its holdings in shares of Royal Bank of Canada by 47.4% in the 1st 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 period. UniSuper Management Pty Ltd raised its holdings 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 acquiring an additional 9,500 shares in the last quarter. Legal & General Group Plc lifted its stake in 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 worth $1,118,150,000 after acquiring an additional 190,341 shares during the period. Creative Planning lifted its position in shares of Royal Bank of Canada by 6.4% in the 3rd quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock worth $26,369,000 after purchasing an additional 12,693 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Royal Bank of Canada during the second quarter valued at approximately $3,787,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Stock Down 0.2 %

NYSE:RY opened at $122.85 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The company’s fifty day moving average price is $122.95 and its 200-day moving average price is $112.53. Royal Bank of Canada has a 1-year low of $83.57 and a 1-year high of $126.96. The firm has a market capitalization of $173.67 billion, a P/E ratio of 14.89, a PEG ratio of 1.87 and a beta of 0.86.

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 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 business had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. As a group, equities research analysts anticipate that Royal Bank of Canada will post 8.88 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be issued a $1.028 dividend. This represents a $4.11 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s payout ratio is 50.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RY shares. BMO Capital Markets upped their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus 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.