Nicola Wealth Management LTD. Sells 15,300 Shares of Royal Bank of Canada (NYSE:RY)

Nicola Wealth Management LTD. cut its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 183,635 shares of the financial services provider’s stock after selling 15,300 shares during the period. Royal Bank of Canada accounts for 2.1% of Nicola Wealth Management LTD.’s portfolio, making the stock its 11th largest holding. Nicola Wealth Management LTD.’s holdings in Royal Bank of Canada were worth $22,905,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RY. Capital Performance Advisors LLP purchased a new stake in Royal Bank of Canada in the third quarter worth about $25,000. Ridgewood Investments LLC bought a new stake in Royal Bank of Canada during the 2nd quarter worth approximately $27,000. Grove Bank & Trust purchased a new position in Royal Bank of Canada during the third quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Royal Bank of Canada by 110.3% during the 3rd 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 in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Royal Bank of Canada in the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on RY. BMO Capital Markets raised their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Price Performance

Shares of NYSE:RY traded down $0.22 during mid-day trading on Thursday, reaching $122.93. The stock had a trading volume of 85,640 shares, compared to its average volume of 1,075,499. The business’s 50 day moving average price is $123.34 and its 200 day moving average price is $113.49. Royal Bank of Canada has a 1 year low of $85.02 and a 1 year high of $126.96. The company has a market cap of $173.78 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.90 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.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. The firm had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. Research analysts expect that Royal Bank of Canada will post 8.88 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s payout ratio is 50.79%.

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.