Mather Group LLC. Has $60,000 Position in Royal Bank of Canada (NYSE:RY)

Mather Group LLC. lessened its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 77.1% in the third quarter, Holdings Channel.com reports. The fund owned 483 shares of the financial services provider’s stock after selling 1,630 shares during the quarter. Mather Group LLC.’s holdings in Royal Bank of Canada were worth $60,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RY. Ridgewood Investments LLC bought a new stake in Royal Bank of Canada in the second quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC bought a new position in Royal Bank of Canada during the second quarter worth about $33,000. Nisa Investment Advisors LLC grew its stake in Royal Bank of Canada by 293.8% in the second quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 379 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Royal Bank of Canada in the first quarter worth about $86,000. Finally, Addison Advisors LLC raised its position in shares of Royal Bank of Canada by 62.5% during the second quarter. Addison Advisors LLC now owns 863 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 332 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RY shares. BMO Capital Markets boosted their price objective on 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. UBS Group began coverage on shares of Royal Bank of Canada in a report on Tuesday, July 2nd. They issued a “buy” rating for the company. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $123.79 on Monday. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $125.28. The company’s fifty day simple moving average is $118.57 and its 200-day simple moving average is $109.64. The firm has a market cap of $175.17 billion, a PE ratio of 15.36, a P/E/G ratio of 1.99 and a beta of 0.86. 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) (TSE:RY) last issued 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. The firm had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Equities research analysts expect that Royal Bank of Canada will post 8.91 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be given a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 51.99%.

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.