Mn Services Vermogensbeheer B.V. Decreases Position in Royal Bank of Canada (NYSE:RY)

Mn Services Vermogensbeheer B.V. lessened its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 4.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 304,600 shares of the financial services provider's stock after selling 13,400 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Royal Bank of Canada were worth $38,059,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mount Yale Investment Advisors LLC raised its position in shares of 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 in the last quarter. Private Advisor Group LLC increased its position in Royal Bank of Canada by 1.6% during 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 period. Shell Asset Management Co. increased its position 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 worth $274,000 after buying an additional 100 shares during the period. HB Wealth Management LLC increased its position 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 worth $562,000 after buying an additional 100 shares during the period. Finally, Leisure Capital Management increased its position 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 worth $1,168,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank of Canada Stock Performance

Shares of RY stock traded up $0.48 during midday trading on Monday, hitting $122.27. The company had a trading volume of 524,269 shares, compared to its average volume of 1,080,297. The company's 50 day simple moving average is $122.81 and its 200 day simple moving average is $112.36. Royal Bank of Canada has a 52-week low of $83.57 and a 52-week high of $126.96. The stock has a market cap of $172.85 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.98 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its 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. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The company had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. Research analysts anticipate that Royal Bank of Canada will post 8.91 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. Investors of record on Thursday, October 24th will be paid 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 dividend yield of 3.36%. Royal Bank of Canada's dividend payout ratio (DPR) is presently 50.67%.

Wall Street Analyst Weigh In

Several research analysts have commented on RY shares. StockNews.com lowered Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, July 20th. BMO Capital Markets lifted their price target on 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned 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 an average price target of $142.50.

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.