Pathstone Holdings LLC Sells 16,268 Shares of Royal Bank of Canada (NYSE:RY)

Pathstone Holdings LLC lessened its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 216,345 shares of the financial services provider’s stock after selling 16,268 shares during the period. Pathstone Holdings LLC’s holdings in Royal Bank of Canada were worth $26,985,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RY. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada in the third quarter worth $25,000. Ridgewood Investments LLC bought a new position in Royal Bank of Canada in the 2nd quarter worth about $27,000. Grove Bank & Trust purchased a new position in Royal Bank of Canada during the 3rd quarter valued at about $28,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Royal Bank of Canada by 110.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after buying an additional 118 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Royal Bank of Canada in the second quarter valued at approximately $33,000. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. 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 report on Thursday, August 29th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Trading Up 0.4 %

Shares of RY stock opened at $122.94 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a market cap of $173.80 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. The business has a 50-day moving average price of $123.37 and a two-hundred day moving average price of $114.27. Royal Bank of Canada has a 12-month low of $85.02 and a 12-month high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The business had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. Equities analysts anticipate that Royal Bank of Canada will post 8.88 EPS 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. Shareholders of record on Thursday, October 24th will be given a dividend of $1.028 per share. The ex-dividend date is Thursday, October 24th. This represents a $4.11 annualized dividend and a yield of 3.34%. Royal Bank of Canada’s payout ratio is currently 50.67%.

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.