Mn Services Vermogensbeheer B.V. Reduces Stake in Royal Bank of Canada (NYSE:RY)

by · The Markets Daily

Mn Services Vermogensbeheer B.V. decreased its stake in shares of Royal Bank of Canada (NYSE:RY – Free Report) (TSE:RY) by 4.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 304,600 shares of the financial services provider’s stock after selling 13,400 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Royal Bank of Canada were worth $38,059,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. PDS Planning Inc raised its holdings in shares of Royal Bank of Canada by 4.8% in the 3rd quarter. PDS Planning Inc now owns 3,875 shares of the financial services provider’s stock valued at $483,000 after acquiring an additional 176 shares in the last quarter. Pembroke Management LTD raised its holdings in shares of Royal Bank of Canada by 3.8% in the 3rd quarter. Pembroke Management LTD now owns 10,492 shares of the financial services provider’s stock valued at $1,309,000 after acquiring an additional 384 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Royal Bank of Canada by 42.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,907 shares of the financial services provider’s stock valued at $1,111,000 after acquiring an additional 2,636 shares in the last quarter. Americana Partners LLC raised its holdings in shares of Royal Bank of Canada by 0.5% in the 3rd quarter. Americana Partners LLC now owns 29,508 shares of the financial services provider’s stock valued at $3,681,000 after acquiring an additional 145 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Royal Bank of Canada by 0.3% in the 3rd quarter. US Bancorp DE now owns 86,594 shares of the financial services provider’s stock valued at $10,801,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. BMO Capital Markets raised 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average price target of $142.50.

Check Out Our Latest Report on Royal Bank of Canada

Royal Bank of Canada Trading Up 0.5 %

RY traded up $0.65 on Monday, hitting $122.44. 83,240 shares of the company were exchanged, compared to its average volume of 1,077,048. The firm has a fifty day simple moving average of $122.68 and a two-hundred day simple moving average of $112.18. 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 12 month low of $83.57 and a 12 month high of $126.96. The stock has a market capitalization of $173.09 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY – Get Free Report) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Sell-side analysts expect that Royal Bank of Canada will post 8.91 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a $1.028 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.36%. Royal Bank of Canada’s dividend payout ratio is currently 50.67%.

Royal Bank of Canada Company Profile

(Free Report)

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.

See Also

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