Quadrant Capital Group LLC Reduces Stock Position in Royal Bank of Canada (NYSE:RY)

Quadrant Capital Group LLC lowered its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 31.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,267 shares of the financial services provider’s stock after selling 1,922 shares during the quarter. Quadrant Capital Group LLC’s holdings in Royal Bank of Canada were worth $408,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. raised its position in Royal Bank of Canada by 5.3% during the 1st quarter. BlackRock Inc. now owns 817,482 shares of the financial services provider’s stock valued at $90,144,000 after purchasing an additional 41,346 shares in the last quarter. Raymond James Trust N.A. raised its position in Royal Bank of Canada by 5.7% during the 1st quarter. Raymond James Trust N.A. now owns 7,030 shares of the financial services provider’s stock valued at $775,000 after purchasing an additional 382 shares in the last quarter. Blair William & Co. IL raised its position in Royal Bank of Canada by 2.0% during the 1st quarter. Blair William & Co. IL now owns 23,498 shares of the financial services provider’s stock valued at $2,591,000 after purchasing an additional 458 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Royal Bank of Canada by 47.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,942 shares of the financial services provider’s stock valued at $545,000 after purchasing an additional 1,582 shares in the last quarter. Finally, Thomas White International Ltd. raised its position in Royal Bank of Canada by 4.6% during the 1st quarter. Thomas White International Ltd. now owns 15,778 shares of the financial services provider’s stock valued at $1,740,000 after purchasing an additional 701 shares in the last quarter. Hedge funds and other institutional investors own 42.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RY. Credit Suisse Group lifted their target price on Royal Bank of Canada from $138.00 to $139.00 and gave the company an “outperform” rating in a research report on Friday, August 25th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Barclays boosted their price target on Royal Bank of Canada from $122.00 to $124.00 and gave the stock an “underweight” rating in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $138.60.

Royal Bank of Canada Trading Up 1.1 %

RY opened at $88.00 on Friday. The stock has a fifty day moving average price of $85.28 and a 200-day moving average price of $90.95. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $104.72. The firm has a market cap of $123.41 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.68 and a beta of 0.84. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, August 24th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.14. Royal Bank of Canada had a return on equity of 15.43% and a net margin of 13.51%. The company had revenue of $10.86 billion for the quarter, compared to analyst estimates of $9.54 billion. As a group, equities research analysts anticipate that Royal Bank of Canada will post 8.26 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be given a dividend of $1.019 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.00. This represents a $4.08 annualized dividend and a yield of 4.63%. The ex-dividend date is Wednesday, October 25th. Royal Bank of Canada’s dividend payout ratio is currently 51.62%.

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.