Royal Bank of Canada (NYSE:RY) Shares Sold by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. decreased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,900 shares of the financial services provider’s stock after selling 1,200 shares during the period. Tandem Investment Advisors Inc.’s holdings in Royal Bank of Canada were worth $861,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RY. Allspring Global Investments Holdings LLC acquired a new stake in shares of Royal Bank of Canada during the first quarter worth $86,000. Private Advisor Group LLC grew its holdings in shares of Royal Bank of Canada by 9.6% during the 1st quarter. Private Advisor Group LLC now owns 5,956 shares of the financial services provider’s stock worth $601,000 after purchasing an additional 521 shares during the period. Atomi Financial Group Inc. increased its position in Royal Bank of Canada by 59.2% during the 1st quarter. Atomi Financial Group Inc. now owns 5,468 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 2,034 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Royal Bank of Canada by 3.9% during the first quarter. Russell Investments Group Ltd. now owns 992,728 shares of the financial services provider’s stock valued at $100,192,000 after buying an additional 36,982 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its stake in Royal Bank of Canada by 2.4% during the first quarter. Avantax Advisory Services Inc. now owns 5,225 shares of the financial services provider’s stock worth $527,000 after buying an additional 124 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Trading Up 1.5 %

NYSE RY opened at $124.55 on Friday. Royal Bank of Canada has a one year low of $83.57 and a one year high of $126.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The company has a 50-day simple moving average of $123.03 and a 200-day simple moving average of $112.60. The firm has a market capitalization of $176.07 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.87 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping the consensus estimate 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 business had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. On average, equities 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 company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a $1.028 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 annualized dividend and a dividend yield of 3.30%. Royal Bank of Canada’s payout ratio is currently 50.67%.

Analyst Upgrades and Downgrades

RY has been the topic of several analyst reports. BMO Capital Markets lifted 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. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada 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.