Crossmark Global Holdings Inc. Lowers Stock Holdings in Royal Bank of Canada (NYSE:RY)

Crossmark Global Holdings Inc. decreased its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 21.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 135,318 shares of the financial services provider's stock after selling 37,849 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Royal Bank of Canada were worth $16,878,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Royal Bank of Canada by 1.8% during the first quarter. Vanguard Group Inc. now owns 55,695,544 shares of the financial services provider's stock worth $5,618,566,000 after purchasing an additional 964,898 shares in the last quarter. National Bank of Canada FI increased its stake in Royal Bank of Canada by 16.7% during 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 buying an additional 2,901,033 shares in the last quarter. The Manufacturers Life Insurance Company raised 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 valued at $1,289,274,000 after acquiring an additional 256,023 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Royal Bank of Canada by 1.8% during the second 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 last quarter. Finally, Capital World Investors lifted its position in shares of Royal Bank of Canada by 75.0% in the first 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 in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Trading Down 0.7 %

RY traded down $0.92 during trading hours on Friday, reaching $123.63. The company's stock had a trading volume of 425,359 shares, compared to its average volume of 1,387,973. The stock has a market cap of $174.77 billion, a PE ratio of 14.95, a P/E/G ratio of 1.89 and a beta of 0.86. Royal Bank of Canada has a fifty-two week low of $83.57 and a fifty-two week high of $126.96. 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 business's 50-day moving average is $123.19 and its 200-day moving average is $112.95.

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, beating the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. As a group, equities research analysts predict that Royal Bank of Canada will post 8.88 earnings per share 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. Shareholders of record on Thursday, October 24th will be paid a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 50.67%.

Wall Street Analyst Weigh In

Several research firms recently commented on RY. StockNews.com downgraded Royal Bank of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, July 20th. BMO Capital Markets increased their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. One equities research 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.