DekaBank Deutsche Girozentrale Reduces Stock Position in Royal Bank of Canada (NYSE:RY)

DekaBank Deutsche Girozentrale cut its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 10.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 945,161 shares of the financial services provider's stock after selling 105,699 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.07% of Royal Bank of Canada worth $116,646,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Ridgewood Investments LLC purchased a new position in 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 3rd quarter worth approximately $28,000. Whittier Trust Co. of Nevada Inc. increased its stake in Royal Bank of Canada by 110.3% in the 3rd 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 in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Royal Bank of Canada during the second quarter worth $33,000. Finally, Nisa Investment Advisors LLC raised its holdings in Royal Bank of Canada by 293.8% during the second quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider's stock worth $54,000 after purchasing an additional 379 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RY. BMO Capital Markets lifted their target price 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. StockNews.com lowered Royal Bank of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, July 20th. Finally, UBS Group assumed coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They set a "buy" rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.50.

Royal Bank of Canada Trading Down 0.9 %

Shares of RY traded down $1.07 during mid-day trading on Friday, reaching $122.46. The company had a trading volume of 3,608,422 shares, compared to its average volume of 1,074,674. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $126.96. The firm has a fifty day simple moving average of $121.75 and a 200-day simple moving average of $111.30. The stock has a market cap of $173.29 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 2.05 and a beta of 0.86. 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 - Get Free Report) TSE: RY last issued its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 15.17% and a net margin of 12.28%. On average, sell-side analysts anticipate that Royal Bank of Canada will post 8.91 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a $1.028 dividend. This represents a $4.11 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada's payout ratio is 51.99%.

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.