Nicola Wealth Management LTD. Sells 15,300 Shares of Royal Bank of Canada (NYSE:RY)

Nicola Wealth Management LTD. trimmed its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 183,635 shares of the financial services provider’s stock after selling 15,300 shares during the quarter. Royal Bank of Canada makes up about 2.1% of Nicola Wealth Management LTD.’s portfolio, making the stock its 11th biggest position. Nicola Wealth Management LTD.’s holdings in Royal Bank of Canada were worth $22,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Addison Advisors LLC raised its holdings in shares of Royal Bank of Canada by 9.5% in the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after buying an additional 82 shares during the period. Mount Yale Investment Advisors LLC increased its stake in Royal Bank of Canada by 1.6% in the second quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 92 shares during the period. Private Advisor Group LLC boosted its stake in shares of Royal Bank of Canada by 1.6% during the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after purchasing an additional 95 shares during the period. Shell Asset Management Co. grew its holdings in shares of Royal Bank of Canada by 3.8% in the first quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 100 shares during the last quarter. Finally, HB Wealth Management LLC increased its stake in Royal Bank of Canada by 1.9% in the 2nd quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock worth $562,000 after buying an additional 100 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Down 0.2 %

NYSE RY traded down $0.22 during midday trading on Thursday, hitting $122.93. 85,640 shares of the company traded hands, compared to its average volume of 1,075,499. Royal Bank of Canada has a 52 week low of $85.02 and a 52 week high of $126.96. The company’s 50-day simple moving average is $123.34 and its 200-day simple moving average is $113.49. The company has a market cap of $173.78 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.90 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $10.40 billion. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is currently 50.79%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. BMO Capital Markets increased their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.