Metis Global Partners LLC Sells 1,300 Shares of Royal Bank of Canada (NYSE:RY)

Metis Global Partners LLC trimmed its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,974 shares of the financial services provider’s stock after selling 1,300 shares during the period. Metis Global Partners LLC’s holdings in Royal Bank of Canada were worth $8,109,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada in the third quarter valued at $25,000. Ridgewood Investments LLC bought a new stake in Royal Bank of Canada in the 2nd quarter valued at about $27,000. Grove Bank & Trust purchased a new stake in Royal Bank of Canada during the third quarter valued at about $28,000. Whittier Trust Co. of Nevada Inc. boosted its position in Royal Bank of Canada by 110.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 118 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Royal Bank of Canada in the second quarter worth about $33,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of 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. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. One equities research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Price Performance

RY stock opened at $123.15 on Thursday. The firm has a 50 day moving average of $123.34 and a 200-day moving average of $113.49. The firm has a market capitalization of $174.09 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.90 and a beta of 0.86. Royal Bank of Canada has a 12 month low of $85.02 and a 12 month high of $126.96. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

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 EPS for the quarter, beating the consensus estimate of $2.15 by $0.23. The firm had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. As a group, sell-side analysts predict that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a $1.028 dividend. The ex-dividend date is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.34%. Royal Bank of Canada’s dividend payout ratio is currently 50.79%.

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.