Gulf International Bank UK Ltd Sells 4,577 Shares of Royal Bank of Canada (NYSE:RY)

Gulf International Bank UK Ltd reduced its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 52.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,229 shares of the financial services provider's stock after selling 4,577 shares during the period. Gulf International Bank UK Ltd's holdings in Royal Bank of Canada were worth $527,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. PDS Planning Inc boosted its holdings in Royal Bank of Canada by 4.8% in the third quarter. PDS Planning Inc now owns 3,875 shares of the financial services provider's stock valued at $483,000 after acquiring an additional 176 shares in the last quarter. Pembroke Management LTD boosted its stake in shares of Royal Bank of Canada by 3.8% during the 3rd quarter. Pembroke Management LTD now owns 10,492 shares of the financial services provider's stock valued at $1,309,000 after purchasing an additional 384 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Royal Bank of Canada by 42.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,907 shares of the financial services provider's stock valued at $1,111,000 after purchasing an additional 2,636 shares in the last quarter. Americana Partners LLC raised its stake in Royal Bank of Canada by 0.5% in the third quarter. Americana Partners LLC now owns 29,508 shares of the financial services provider's stock worth $3,681,000 after buying an additional 145 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Royal Bank of Canada by 0.3% in the third quarter. US Bancorp DE now owns 86,594 shares of the financial services provider's stock worth $10,801,000 after buying an additional 250 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RY. BMO Capital Markets increased their target price 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. StockNews.com downgraded Royal Bank of Canada from a "hold" rating to a "sell" rating in a report on Saturday, July 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Royal Bank of Canada presently has a consensus rating of "Moderate Buy" and an average target price of $142.50.

Royal Bank of Canada Stock Down 0.7 %

Shares of Royal Bank of Canada stock traded down $0.92 during midday trading on Friday, hitting $123.63. The company had a trading volume of 425,359 shares, compared to its average volume of 1,387,973. Royal Bank of Canada has a 52-week low of $83.57 and a 52-week high of $126.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $174.77 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.89 and a beta of 0.86. The company has a 50 day moving average of $123.19 and a 200 day moving average of $112.95.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last released its 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 the consensus estimate of $10.40 billion. On average, equities 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 company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.33%. Royal Bank of Canada's dividend payout ratio is currently 50.67%.

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.