Royal Bank of Canada (NYSE:RY) Shares Sold by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. lowered its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 7.7% during the 3rd quarter, according to the company in its most recent disclosure 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 makes up approximately 2.1% of Nicola Wealth Management LTD.'s holdings, 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.

A number of other institutional investors have also recently made changes to their positions in RY. Allspring Global Investments Holdings LLC purchased a new stake in Royal Bank of Canada in the first quarter worth about $86,000. Avantax Advisory Services Inc. increased its holdings in shares of Royal Bank of Canada by 2.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,225 shares of the financial services provider's stock worth $527,000 after purchasing an additional 124 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Royal Bank of Canada by 3.4% during the 1st quarter. Bleakley Financial Group LLC now owns 5,299 shares of the financial services provider's stock valued at $535,000 after acquiring an additional 174 shares during the period. Orion Portfolio Solutions LLC grew its position in 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 purchasing an additional 5,302 shares during the period. Finally, Nwam LLC increased its position in shares of Royal Bank of Canada by 6.1% during the 1st quarter. Nwam LLC now owns 3,746 shares of the financial services provider's stock valued at $378,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RY. BMO Capital Markets boosted their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, August 29th. StockNews.com downgraded shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, July 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $142.50.

Royal Bank of Canada Price Performance

Shares of RY stock traded down $0.76 on Thursday, reaching $122.39. 539,686 shares of the company were exchanged, compared to its average volume of 1,090,650. Royal Bank of Canada has a 1 year low of $85.02 and a 1 year high of $126.96. The business has a 50-day moving average price of $123.34 and a 200 day moving average price of $113.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $173.02 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 1.90 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion during the quarter, compared to analysts' expectations of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Equities research analysts forecast that Royal Bank of Canada will post 8.88 earnings per share 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. Shareholders of record on Thursday, October 24th will be given a $1.028 dividend. The ex-dividend date is Thursday, October 24th. This represents a $4.11 annualized dividend and a yield of 3.36%. Royal Bank of Canada's dividend payout ratio is presently 50.79%.

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.