Brown Brothers Harriman & Co. Has $2.16 Million Holdings in Royal Bank of Canada (NYSE:RY)

Brown Brothers Harriman & Co. reduced its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,276 shares of the financial services provider’s stock after selling 256 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Royal Bank of Canada were worth $2,155,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Shell Asset Management Co. boosted its stake in shares of Royal Bank of Canada by 3.8% in the 1st quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 100 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Royal Bank of Canada by 29.0% during the 1st quarter. Advisors Asset Management Inc. now owns 2,953 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 664 shares during the period. Advisory Resource Group raised its position in shares of Royal Bank of Canada by 25.8% in the 1st quarter. Advisory Resource Group now owns 8,741 shares of the financial services provider’s stock worth $882,000 after acquiring an additional 1,795 shares in the last quarter. Virtu Financial LLC raised its position in shares of Royal Bank of Canada by 50.6% in the 1st quarter. Virtu Financial LLC now owns 4,113 shares of the financial services provider’s stock worth $415,000 after acquiring an additional 1,382 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Royal Bank of Canada by 390.4% in the 1st quarter. Cetera Investment Advisers now owns 25,057 shares of the financial services provider’s stock valued at $2,528,000 after purchasing an additional 19,948 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Price Performance

RY stock opened at $124.30 on Tuesday. The company has a market capitalization of $175.72 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.93 and a beta of 0.86. Royal Bank of Canada has a 52-week low of $85.02 and a 52-week high of $126.96. The business has a 50-day simple moving average of $123.41 and a two-hundred day simple moving average of $114.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87.

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, beating analysts’ consensus estimates of $2.15 by $0.23. The business had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. Research analysts expect that Royal Bank of Canada will post 8.37 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, October 24th were issued a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.79%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, BMO Capital Markets lifted their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada currently has an average 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.