Pathstone Holdings LLC Trims Holdings in Royal Bank of Canada (NYSE:RY)

Pathstone Holdings LLC lowered its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 7.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 216,345 shares of the financial services provider's stock after selling 16,268 shares during the quarter. Pathstone Holdings LLC's holdings in Royal Bank of Canada were worth $26,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. National Bank of Canada FI raised its position in 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 valued at $2,141,681,000 after purchasing an additional 2,901,033 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Royal Bank of Canada by 0.9% during the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider's stock worth $1,706,833,000 after buying an additional 124,348 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Royal Bank of Canada by 2.2% during the second 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 buying an additional 256,023 shares during the last quarter. Legal & General Group Plc increased its position in 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 valued at $1,118,150,000 after acquiring an additional 190,341 shares during the period. Finally, Capital World Investors raised its stake in Royal Bank of Canada by 75.0% during the 1st quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider's stock valued at $637,460,000 after acquiring an additional 2,708,534 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank of Canada Price Performance

Shares of NYSE RY traded down $1.11 during midday trading on Wednesday, hitting $121.79. The company had a trading volume of 359,499 shares, compared to its average volume of 1,099,708. The firm has a market capitalization of $172.17 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a twelve month low of $85.02 and a twelve month high of $126.96. The business has a 50-day simple moving average of $123.37 and a two-hundred day simple moving average of $114.27. The company has a quick ratio of 0.87, a current 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 announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping 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 business had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. Equities research analysts anticipate that Royal Bank of Canada will post 8.88 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada's dividend payout ratio is currently 50.67%.

Analyst Ratings Changes

A number of research firms have recently issued reports on RY. BMO Capital Markets boosted their target price on Royal Bank of Canada from $151.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. TD Securities cut shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $142.50.

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.