Atria Investments Inc Sells 2,408 Shares of Royal Bank of Canada (NYSE:RY)

Atria Investments Inc decreased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 57.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,782 shares of the financial services provider’s stock after selling 2,408 shares during the period. Atria Investments Inc’s holdings in Royal Bank of Canada were worth $222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in RY. Shell Asset Management Co. increased its stake in Royal Bank of Canada by 3.8% in the first quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 100 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Royal Bank of Canada by 15.0% during the 1st quarter. EP Wealth Advisors LLC now owns 3,052 shares of the financial services provider’s stock valued at $308,000 after buying an additional 397 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Royal Bank of Canada by 29.0% during the 1st quarter. Advisors Asset Management Inc. now owns 2,953 shares of the financial services provider’s stock valued at $298,000 after buying an additional 664 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its position in Royal Bank of Canada by 27.4% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 5,731 shares of the financial services provider’s stock worth $578,000 after buying an additional 1,233 shares during the last quarter. Finally, Advisory Resource Group boosted its stake in Royal Bank of Canada by 25.8% in the first quarter. Advisory Resource Group now owns 8,741 shares of the financial services provider’s stock worth $882,000 after buying an additional 1,795 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on RY shares. BMO Capital Markets lifted their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday. Finally, TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Stock Performance

NYSE:RY opened at $125.08 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. Royal Bank of Canada has a fifty-two week low of $85.02 and a fifty-two week high of $126.96. The firm has a market cap of $176.82 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.93 and a beta of 0.86. The business has a 50 day moving average price of $123.39 and a 200-day moving average price of $114.65.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating 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 business had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $10.40 billion. Equities research analysts predict that Royal Bank of Canada will post 8.37 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, October 24th were paid a $1.028 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $4.11 annualized dividend and a dividend yield of 3.29%. Royal Bank of Canada’s payout ratio is presently 50.67%.

About Royal Bank of Canada

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.