CENTRAL TRUST Co Sells 132 Shares of Royal Bank of Canada (NYSE:RY)

CENTRAL TRUST Co trimmed its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,155 shares of the financial services provider’s stock after selling 132 shares during the quarter. CENTRAL TRUST Co’s holdings in Royal Bank of Canada were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Orion Portfolio Solutions LLC raised its position in shares of Royal Bank of Canada by 47.4% in the first quarter. Orion Portfolio Solutions LLC now owns 16,494 shares of the financial services provider’s stock valued at $1,664,000 after purchasing an additional 5,302 shares during the period. UniSuper Management Pty Ltd grew its stake in Royal Bank of Canada by 91.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 19,900 shares of the financial services provider’s stock valued at $2,008,000 after buying an additional 9,500 shares in the last quarter. Legal & General Group Plc raised its holdings in Royal Bank of Canada by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after acquiring an additional 190,341 shares during the period. Maryland State Retirement & Pension System lifted its position in shares of Royal Bank of Canada by 53.0% during the first quarter. Maryland State Retirement & Pension System now owns 73,036 shares of the financial services provider’s stock worth $7,038,000 after acquiring an additional 25,299 shares in the last quarter. Finally, Creative Planning boosted its holdings in shares of Royal Bank of Canada by 6.4% in the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock worth $26,369,000 after acquiring an additional 12,693 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RY. 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 note on Thursday, August 29th. UBS Group initiated coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They set a “buy” rating for the company. Finally, StockNews.com downgraded 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 given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Trading Down 0.9 %

Shares of RY stock opened at $122.46 on Friday. The company has a market capitalization of $173.29 billion, a PE ratio of 15.19, a price-to-earnings-growth 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 business’s fifty day moving average is $121.75 and its 200 day moving average is $111.23. 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 (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. The business had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. On average, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be paid a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is currently 51.99%.

Royal Bank of Canada 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.