Mount Yale Investment Advisors LLC Sells 388 Shares of Royal Bank of Canada (NYSE:RY)

Mount Yale Investment Advisors LLC cut its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,435 shares of the financial services provider’s stock after selling 388 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Royal Bank of Canada were worth $678,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Royal Bank of Canada by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 55,695,544 shares of the financial services provider’s stock valued at $5,618,566,000 after buying an additional 964,898 shares in the last quarter. National Bank of Canada FI grew its stake in Royal Bank of Canada by 16.7% during the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock valued at $2,141,681,000 after acquiring an additional 2,901,033 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Royal Bank of Canada by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock worth $1,289,274,000 after acquiring an additional 256,023 shares during the period. Legal & General Group Plc lifted its stake in Royal Bank of Canada by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after purchasing an additional 190,341 shares in the last quarter. Finally, Capital World Investors boosted its holdings in Royal Bank of Canada by 75.0% in the 1st quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider’s stock valued at $637,460,000 after purchasing an additional 2,708,534 shares during the period. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Trading Down 0.9 %

NYSE RY opened at $122.46 on Friday. The stock’s 50-day simple moving average is $121.75 and its two-hundred day simple moving average is $111.23. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $126.96. 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 company 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.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $10.40 billion. Research analysts forecast that Royal Bank of Canada will post 8.91 EPS for the current fiscal year.

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. This represents a $4.11 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is currently 51.99%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. UBS Group assumed coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They issued a “buy” rating on the stock. Finally, 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 report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus price target 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.