Candriam S.C.A. Sells 52,116 Shares of Royal Bank of Canada (NYSE:RY)

Candriam S.C.A. decreased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 54.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 43,594 shares of the financial services provider’s stock after selling 52,116 shares during the quarter. Candriam S.C.A.’s holdings in Royal Bank of Canada were worth $4,640,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new position in shares of Royal Bank of Canada during the 2nd quarter valued at about $27,000. Mather Group LLC. purchased a new position in shares of Royal Bank of Canada during the first quarter worth approximately $49,000. Nisa Investment Advisors LLC lifted its holdings 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 worth $54,000 after acquiring an additional 379 shares during the last quarter. Heritage Wealth Advisors purchased a new stake in shares of Royal Bank of Canada in the 4th quarter valued at $61,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Royal Bank of Canada by 192.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 716 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RY shares. UBS Group began coverage on shares of Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating for the company. Scotiabank upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Jefferies Financial Group upgraded Royal Bank of Canada from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Finally, BMO Capital Markets raised their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. One investment 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 company’s stock. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Stock Up 1.7 %

Shares of NYSE:RY opened at $122.98 on Tuesday. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $123.19. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s 50-day moving average is $112.42 and its 200 day moving average is $105.58. The company has a market cap of $174.03 billion, a PE ratio of 15.26, a P/E/G ratio of 1.97 and a beta of 0.86.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be issued 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 dividend yield of 3.34%. Royal Bank of Canada’s dividend payout ratio is presently 50.99%.

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.