DekaBank Deutsche Girozentrale Sells 105,699 Shares of Royal Bank of Canada (NYSE:RY)

DekaBank Deutsche Girozentrale lessened its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 945,161 shares of the financial services provider’s stock after selling 105,699 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.07% of Royal Bank of Canada worth $116,646,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of Royal Bank of Canada in the 2nd quarter valued at approximately $27,000. Grove Bank & Trust acquired a new position in Royal Bank of Canada during the third quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. lifted its stake 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 last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Royal Bank of Canada in the 2nd quarter valued at $33,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Royal Bank of Canada by 293.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 379 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

RY has been the topic of several research analyst reports. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. UBS Group initiated coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They issued a “buy” rating on the stock. Finally, BMO Capital Markets upped their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $122.46 on Friday. The firm has a market capitalization of $173.29 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 2.05 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The business’s 50-day moving average price is $121.75 and its 200-day moving average price is $111.23. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $10.40 billion. Equities research analysts forecast that Royal Bank of Canada will post 8.91 EPS 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. Investors 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 annualized dividend and a dividend yield of 3.36%. Royal Bank of Canada’s dividend payout ratio is 51.99%.

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.