Royal Bank of Canada (NYSE:RY) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. cut its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 21.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,318 shares of the financial services provider’s stock after selling 37,849 shares during the period. Crossmark Global Holdings Inc.’s holdings in Royal Bank of Canada were worth $16,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Royal Bank of Canada Trading Down 0.7 %

NYSE RY traded down $0.92 on Friday, reaching $123.63. 425,359 shares of the company were exchanged, compared to its average volume of 1,387,973. The business’s fifty day moving average price is $123.19 and its 200 day moving average price is $112.86. The stock has a market capitalization of $174.77 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 1.89 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. Royal Bank of Canada has a fifty-two week low of $83.57 and a fifty-two week 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, beating analysts’ consensus estimates 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 8.88 earnings per share for the current 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 given 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 3.33%. Royal Bank of Canada’s dividend payout ratio is currently 50.79%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. BMO Capital Markets boosted their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Company 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.