Intech Investment Management LLC Has $12.84 Million Position in Royal Bank of Canada (NYSE:RY)

Intech Investment Management LLC decreased its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 18.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,726 shares of the financial services provider's stock after selling 22,809 shares during the period. Intech Investment Management LLC's holdings in Royal Bank of Canada were worth $12,836,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RY. Addison Advisors LLC boosted its position in shares of Royal Bank of Canada by 9.5% in the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 82 shares during the period. Mount Yale Investment Advisors LLC lifted its position in Royal Bank of Canada by 1.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider's stock worth $619,000 after acquiring an additional 92 shares during the period. Drive Wealth Management LLC lifted its position in Royal Bank of Canada by 3.4% during the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider's stock worth $349,000 after acquiring an additional 92 shares during the period. Private Advisor Group LLC lifted its position in Royal Bank of Canada by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider's stock worth $768,000 after acquiring an additional 95 shares during the period. Finally, Shell Asset Management Co. lifted its position in Royal Bank of Canada by 3.8% during the 1st quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider's stock worth $274,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RY shares. Barclays raised Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a report on Thursday. TD Securities cut Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Finally, 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $142.50.

Royal Bank of Canada Stock Performance

Shares of NYSE:RY traded down $0.07 during trading on Friday, hitting $125.02. 682,076 shares of the company traded hands, compared to its average volume of 1,096,496. The stock has a market capitalization of $176.74 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.88 and a beta of 0.86. The business's fifty day moving average is $123.36 and its 200-day moving average is $114.40. Royal Bank of Canada has a one year low of $85.02 and a one year high of $126.96. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its 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. The company had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. As a group, equities analysts predict that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

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