OmniStar Financial Group Inc. Sells 426 Shares of Royal Bank of Canada (NYSE:RY)

OmniStar Financial Group Inc. trimmed its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,600 shares of the financial services provider’s stock after selling 426 shares during the period. OmniStar Financial Group Inc.’s holdings in Royal Bank of Canada were worth $324,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Ridgewood Investments LLC acquired a new stake in shares of Royal Bank of Canada in the second quarter valued at about $27,000. Grove Bank & Trust acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at about $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Royal Bank of Canada in the second quarter valued at about $33,000. Mather Group LLC. acquired a new stake in shares of Royal Bank of Canada in the first quarter valued at about $49,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Royal Bank of Canada by 293.8% in the second quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 379 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock traded down $0.17 on Friday, hitting $126.30. The stock had a trading volume of 85,344 shares, compared to its average volume of 1,042,501. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $126.96. The business’s 50 day moving average is $120.00 and its two-hundred day moving average is $110.20. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The stock has a market cap of $178.72 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 2.02 and a beta of 0.86.

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, beating the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The company had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. Analysts forecast that Royal Bank of Canada will post 8.91 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 51.99%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RY. UBS Group began coverage on Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating on the stock. BMO Capital Markets boosted their price target on 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. Finally, StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.50.

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.