Royal Bank of Canada (NYSE:RY) Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc reduced its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,576 shares of the financial services provider’s stock after selling 104 shares during the quarter. Prospera Financial Services Inc’s holdings in Royal Bank of Canada were worth $2,193,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Royal Bank of Canada during the third quarter worth approximately $25,000. Ridgewood Investments LLC purchased a new stake in Royal Bank of Canada during the second quarter worth approximately $27,000. Grove Bank & Trust purchased a new stake in Royal Bank of Canada during the third quarter worth approximately $28,000. Whittier Trust Co. of Nevada Inc. grew 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 buying an additional 118 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Royal Bank of Canada during the second quarter worth approximately $33,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RY has been the subject of several research reports. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets upped their target price 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s 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 Price Performance

Shares of RY stock opened at $121.79 on Thursday. Royal Bank of Canada has a twelve month low of $85.02 and a twelve 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. The company has a market capitalization of $172.17 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. The firm has a fifty day simple moving average of $123.34 and a 200-day simple moving average of $114.32.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data 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 net margin of 12.28% and a return on equity of 15.17%. The firm had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. Equities research analysts anticipate that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a dividend of $1.028 per share. The ex-dividend date is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.38%. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.67%.

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.