Altrius Capital Management Inc Sells 3,349 Shares of Royal Bank of Canada (NYSE:RY)

Altrius Capital Management Inc trimmed its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,311 shares of the financial services provider’s stock after selling 3,349 shares during the quarter. Royal Bank of Canada accounts for approximately 2.3% of Altrius Capital Management Inc’s portfolio, making the stock its largest holding. Altrius Capital Management Inc’s holdings in Royal Bank of Canada were worth $9,144,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RY. Capital Performance Advisors LLP purchased a new stake in shares of Royal Bank of Canada in the third quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares in the last quarter. Grove Bank & Trust purchased a new position in shares of Royal Bank of Canada during the third quarter valued at approximately $28,000. Ridgewood Investments LLC purchased a new position in shares of Royal Bank of Canada during the second quarter valued at approximately $27,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Royal Bank of Canada during the second quarter valued at approximately $33,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets upped their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Trading Down 1.1 %

NYSE:RY traded down $1.29 during trading hours on Friday, reaching $121.10. 129,248 shares of the company were exchanged, compared to its average volume of 1,088,007. 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 has a market cap of $171.20 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.89 and a beta of 0.86. Royal Bank of Canada has a 52-week low of $85.02 and a 52-week high of $126.96. The stock has a 50 day simple moving average of $123.36 and a 200 day simple moving average of $113.56.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $10.40 billion. As a group, analysts predict that Royal Bank of Canada will post 8.88 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s payout ratio is currently 50.79%.

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.