Royal Bank of Canada (NYSE:RY) Position Lowered by Gold Investment Management Ltd.

Gold Investment Management Ltd. trimmed its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 12.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,534 shares of the financial services provider's stock after selling 5,981 shares during the period. Royal Bank of Canada makes up about 2.3% of Gold Investment Management Ltd.'s portfolio, making the stock its 8th biggest position. Gold Investment Management Ltd.'s holdings in Royal Bank of Canada were worth $5,426,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in 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 valued at $5,618,566,000 after acquiring an additional 964,898 shares in the last quarter. National Bank of Canada FI grew its position in Royal Bank of Canada by 16.7% during the second 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 buying an additional 2,901,033 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Royal Bank of Canada by 2.2% in 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 buying an additional 256,023 shares in the last quarter. Legal & General Group Plc raised its position in shares of Royal Bank of Canada by 1.8% in the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider's stock worth $1,118,150,000 after acquiring an additional 190,341 shares during the period. Finally, Capital World Investors raised 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 worth $637,460,000 after acquiring an additional 2,708,534 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

NYSE RY traded down $0.90 during mid-day trading on Friday, hitting $123.65. The stock had a trading volume of 425,357 shares, compared to its average volume of 1,077,457. Royal Bank of Canada has a twelve month low of $83.57 and a twelve month 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 firm's 50 day moving average is $123.03 and its 200 day moving average is $112.60. The stock has a market capitalization of $174.80 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.88 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The company had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be issued a $1.028 dividend. The ex-dividend date is Thursday, October 24th. This represents a $4.11 annualized dividend and a yield of 3.33%. Royal Bank of Canada's dividend payout ratio (DPR) is currently 50.79%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RY. BMO Capital Markets upped their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, August 29th. StockNews.com cut shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, July 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.