Prime Capital Investment Advisors LLC Sells 234 Shares of Royal Bank of Canada (NYSE:RY)

Prime Capital Investment Advisors LLC lessened its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 14,121 shares of the financial services provider’s stock after selling 234 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Royal Bank of Canada were worth $1,761,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. 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 acquiring an additional 5,302 shares during the last quarter. UniSuper Management Pty Ltd lifted its holdings in shares of Royal Bank of Canada by 91.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 19,900 shares of the financial services provider’s stock worth $2,008,000 after acquiring an additional 9,500 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Royal Bank of Canada by 1.8% in the 2nd 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 last quarter. Creative Planning lifted its holdings 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 acquiring an additional 12,693 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Royal Bank of Canada during the 2nd quarter valued at about $3,787,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.6 %

Shares of RY opened at $123.15 on Thursday. Royal Bank of Canada has a 1-year low of $85.02 and a 1-year high of $126.96. 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 firm has a market capitalization of $174.09 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.90 and a beta of 0.86. The company has a 50-day moving average of $123.32 and a 200 day moving average of $113.43.

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, beating the consensus estimate 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 analyst estimates of $10.40 billion. On average, research analysts expect that Royal Bank of Canada will post 8.88 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be issued a $1.028 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 annualized dividend and a dividend yield of 3.34%. Royal Bank of Canada’s dividend payout ratio is currently 50.79%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of 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 lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Royal Bank of Canada presently has a consensus 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.