Royal Bank of Canada (NYSE:RY) Shares Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. lessened its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 65.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 357,999 shares of the financial services provider’s stock after selling 686,118 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Royal Bank of Canada were worth $44,732,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Royal Bank of Canada during the third quarter valued at $25,000. Ridgewood Investments LLC acquired a new stake in shares of Royal Bank of Canada in the second quarter valued at about $27,000. Grove Bank & Trust acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at about $28,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Royal Bank of Canada by 110.3% in 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 purchasing an additional 118 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Royal Bank of Canada in the second quarter valued at about $33,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

RY opened at $125.02 on Friday. The firm has a market capitalization of $176.74 billion, a PE ratio of 15.12, a PEG ratio of 1.93 and a beta of 0.86. Royal Bank of Canada has a twelve month low of $85.02 and a twelve month high of $126.96. The firm’s 50-day moving average price is $123.39 and its 200 day moving average price is $114.56. 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 issued its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS 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 company had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. As a group, sell-side analysts expect that Royal Bank of Canada will post 8.37 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th were paid a dividend of $1.028 per share. This represents a $4.11 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.79%.

Wall Street Analyst Weigh In

RY has been the topic of several research analyst reports. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday. Finally, BMO Capital Markets boosted their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.