Lincluden Management Ltd. Cuts Holdings in Royal Bank of Canada (NYSE:RY)

Lincluden Management Ltd. decreased its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 606,169 shares of the financial services provider's stock after selling 19,996 shares during the period. Royal Bank of Canada comprises 8.3% of Lincluden Management Ltd.'s portfolio, making the stock its largest holding. Lincluden Management Ltd.'s holdings in Royal Bank of Canada were worth $75,704,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC increased its holdings in Royal Bank of Canada by 1.6% in the second quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider's stock worth $619,000 after buying an additional 92 shares during the last quarter. Private Advisor Group LLC increased its holdings in Royal Bank of Canada by 1.6% in the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider's stock worth $768,000 after buying an additional 95 shares during the last quarter. Shell Asset Management Co. grew its holdings in Royal Bank of Canada by 3.8% during the first quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider's stock valued at $274,000 after purchasing an additional 100 shares during the last quarter. HB Wealth Management LLC grew its holdings in Royal Bank of Canada by 1.9% during the second quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider's stock valued at $562,000 after purchasing an additional 100 shares during the last quarter. Finally, Leisure Capital Management grew its holdings in Royal Bank of Canada by 1.1% during the third quarter. Leisure Capital Management now owns 9,366 shares of the financial services provider's stock valued at $1,168,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com cut Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, July 20th. BMO Capital Markets raised their target price 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada presently has an average rating of "Moderate Buy" and an average target price of $142.50.

Royal Bank of Canada Stock Performance

Shares of RY stock traded up $0.98 during trading on Friday, reaching $121.87. 713,333 shares of the company's stock were exchanged, compared to its average volume of 1,081,736. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm's fifty day moving average price is $122.56 and its 200-day moving average price is $111.79. Royal Bank of Canada has a twelve month low of $80.96 and a twelve month high of $126.96. The stock has a market capitalization of $172.28 billion, a PE ratio of 14.72, a PEG ratio of 2.02 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.23. The company had revenue of $10.68 billion during 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 anticipate that Royal Bank of Canada will post 8.91 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The business 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 dividend on an annualized basis and a dividend yield of 3.37%. Royal Bank of Canada's dividend payout ratio (DPR) 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.