Altrius Capital Management Inc Sells 4,418 Shares of Royal Bank Of Canada $RY

Altrius Capital Management Inc cut its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 6.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,867 shares of the financial services provider’s stock after selling 4,418 shares during the quarter. Royal Bank Of Canada makes up approximately 2.2% of Altrius Capital Management Inc’s portfolio, making the stock its 4th biggest position. Altrius Capital Management Inc’s holdings in Royal Bank Of Canada were worth $9,851,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RY. Toth Financial Advisory Corp acquired a new position in Royal Bank Of Canada during the 3rd quarter worth approximately $29,000. True Wealth Design LLC acquired a new stake in shares of Royal Bank Of Canada in the 3rd quarter valued at $31,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Royal Bank Of Canada during the 3rd quarter worth $38,000. CoreCap Advisors LLC grew its stake in shares of Royal Bank Of Canada by 103.8% during the third quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 138 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Royal Bank Of Canada by 86.5% in the second quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock valued at $50,000 after buying an additional 180 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. TD Securities raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. National Bankshares reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. Zacks Research raised Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $162.00.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $170.05 on Thursday. The company’s 50 day simple moving average is $167.02 and its 200-day simple moving average is $151.27. The firm has a market cap of $237.65 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.22 and a beta of 0.79. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $174.61. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. The company had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $12.12 billion. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. Royal Bank Of Canada’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm posted $3.07 EPS. As a group, equities analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be given a $1.64 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date is Monday, January 26th. This represents a $6.56 annualized dividend and a yield of 3.9%. Royal Bank Of Canada’s payout ratio is presently 47.66%.

Royal Bank Of Canada Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.