Sequoia Financial Advisors LLC Has $1.78 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Sequoia Financial Advisors LLC grew its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 14,301 shares of the financial services provider’s stock after buying an additional 385 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Royal Bank of Canada were worth $1,784,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RY. Whittier Trust Co. of Nevada Inc. grew its position in Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares during the period. Godsey & Gibb Inc. lifted its stake in shares of Royal Bank of Canada by 1.6% in the third quarter. Godsey & Gibb Inc. now owns 205,024 shares of the financial services provider’s stock valued at $25,573,000 after buying an additional 3,266 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Royal Bank of Canada by 1.0% during the third quarter. Raymond James & Associates now owns 344,553 shares of the financial services provider’s stock valued at $42,976,000 after buying an additional 3,335 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Royal Bank of Canada by 12.1% during the third quarter. First Citizens Bank & Trust Co. now owns 9,784 shares of the financial services provider’s stock worth $1,220,000 after acquiring an additional 1,059 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Royal Bank of Canada by 7.7% in the 3rd quarter. Blue Trust Inc. now owns 16,845 shares of the financial services provider’s stock worth $2,101,000 after acquiring an additional 1,206 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RY. 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 upped their price target 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. Finally, UBS Group initiated coverage on Royal Bank of Canada in a research note on Tuesday, July 2nd. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Stock Performance

RY stock opened at $123.53 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a market cap of $174.63 billion, a PE ratio of 14.94, a P/E/G ratio of 2.05 and a beta of 0.86. The business has a 50 day moving average of $121.28 and a 200-day moving average of $110.95. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. The firm had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. As a group, sell-side analysts expect that Royal Bank of Canada will post 8.91 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be given a $1.028 dividend. This represents a $4.11 annualized dividend and a yield of 3.33%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is 50.18%.

About Royal Bank of Canada

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.