Mount Yale Investment Advisors LLC Has $678,000 Stock Holdings in Royal Bank of Canada (NYSE:RY)

Mount Yale Investment Advisors LLC reduced its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,435 shares of the financial services provider’s stock after selling 388 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Royal Bank of Canada were worth $678,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RY. Park Avenue Securities LLC increased its holdings in Royal Bank of Canada by 10.3% during the 1st quarter. Park Avenue Securities LLC now owns 2,769 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 259 shares in the last quarter. Kathmere Capital Management LLC raised its position in Royal Bank of Canada by 5.7% in the 1st quarter. Kathmere Capital Management LLC now owns 2,981 shares of the financial services provider’s stock valued at $301,000 after buying an additional 160 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Royal Bank of Canada by 32.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,269 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 314 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Royal Bank of Canada during the 1st quarter worth $86,000. Finally, Applied Capital LLC FL grew its stake in shares of Royal Bank of Canada by 0.8% in the 1st quarter. Applied Capital LLC FL now owns 17,148 shares of the financial services provider’s stock worth $1,730,000 after acquiring an additional 142 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $122.46 on Friday. 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 firm has a market cap of $173.29 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 2.05 and a beta of 0.86. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $126.96. The firm’s 50-day simple moving average is $121.75 and its two-hundred day simple moving average is $111.23.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $10.40 billion. As a group, equities analysts forecast that Royal Bank of Canada will post 8.91 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The company 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. This represents a $4.11 annualized dividend and a yield of 3.36%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 51.99%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. UBS Group assumed coverage on shares of Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating on the stock. Finally, BMO Capital Markets upped their target price on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.