Skandinaviska Enskilda Banken AB publ Sells 14,138 Shares of Royal Bank of Canada (NYSE:RY)

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 342,360 shares of the financial services provider’s stock after selling 14,138 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Royal Bank of Canada were worth $36,406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new position in Royal Bank of Canada during the second quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new position in Royal Bank of Canada during the second quarter worth about $33,000. Mather Group LLC. bought a new position in Royal Bank of Canada during the first quarter worth about $49,000. Nisa Investment Advisors LLC boosted its holdings in Royal Bank of Canada by 293.8% during the second quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock worth $54,000 after buying an additional 379 shares during the last quarter. Finally, Heritage Wealth Advisors bought a new position in Royal Bank of Canada during the fourth quarter worth about $61,000. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

RY has been the topic of a number of recent analyst reports. UBS Group initiated coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They set a “buy” rating on the stock. BMO Capital Markets lifted their price objective 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. Argus lifted their price objective on Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Trading Up 0.4 %

NYSE:RY opened at $123.05 on Friday. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $124.46. 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 stock has a market capitalization of $174.12 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.00 and a beta of 0.86. The business’s 50-day simple moving average is $114.64 and its 200-day simple moving average is $106.89.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be given a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is presently 51.49%.

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.