Royal Bank of Canada (NYSE:RY) Shares Sold by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co lowered its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 37.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,700 shares of the financial services provider's stock after selling 81,655 shares during the quarter. Royal Bank of Canada accounts for about 2.9% of DORCHESTER WEALTH MANAGEMENT Co's portfolio, making the stock its 4th largest position. DORCHESTER WEALTH MANAGEMENT Co's holdings in Royal Bank of Canada were worth $16,479,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of RY. Vanguard Group Inc. lifted its holdings in shares of Royal Bank of Canada by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 55,695,544 shares of the financial services provider's stock worth $5,618,566,000 after acquiring an additional 964,898 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Royal Bank of Canada by 16.7% in the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider's stock worth $2,141,681,000 after acquiring an additional 2,901,033 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Royal Bank of Canada by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider's stock worth $1,289,274,000 after acquiring an additional 256,023 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. Finally, Capital World Investors lifted its holdings in shares of Royal Bank of Canada by 75.0% in the 1st quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider's stock worth $637,460,000 after acquiring an additional 2,708,534 shares during the last quarter. Institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Stock Down 0.5 %

NYSE RY traded down $0.62 during trading on Thursday, reaching $123.53. 787,512 shares of the company's stock traded hands, compared to its average volume of 1,074,500. 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 cap of $174.63 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 2.05 and a beta of 0.86. The company's 50 day simple moving average is $121.28 and its two-hundred day simple moving average is $110.95. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $126.96.

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 analysts' consensus estimates of $2.15 by $0.23. The business had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. As a group, sell-side analysts forecast that Royal Bank of Canada will post 8.91 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm 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 dividend of $1.028 per share. This represents a $4.11 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada's dividend payout ratio (DPR) is 50.18%.

Analyst Upgrades and Downgrades

RY has been the topic of several recent analyst reports. BMO Capital Markets raised 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 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. Finally, UBS Group initiated coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.50.

About Royal Bank of Canada

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.