Allianz Asset Management GmbH Sells 48,302 Shares of Royal Bank Of Canada $RY

Allianz Asset Management GmbH lowered its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 18.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 217,125 shares of the financial services provider’s stock after selling 48,302 shares during the quarter. Allianz Asset Management GmbH’s holdings in Royal Bank Of Canada were worth $28,557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC grew its stake in Royal Bank Of Canada by 1,187.6% during the first quarter. Campbell & CO Investment Adviser LLC now owns 25,740 shares of the financial services provider’s stock worth $2,901,000 after buying an additional 23,741 shares during the last quarter. Baskin Financial Services Inc. grew its stake in Royal Bank Of Canada by 5.0% during the first quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider’s stock worth $7,079,000 after buying an additional 3,006 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Royal Bank Of Canada by 1.1% during the first quarter. Envestnet Asset Management Inc. now owns 341,776 shares of the financial services provider’s stock worth $38,525,000 after buying an additional 3,767 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Royal Bank Of Canada by 4.4% during the first quarter. JPMorgan Chase & Co. now owns 6,458,212 shares of the financial services provider’s stock worth $727,970,000 after buying an additional 271,531 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Royal Bank Of Canada by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 86,847 shares of the financial services provider’s stock worth $9,789,000 after buying an additional 3,358 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Up 0.3%

Shares of NYSE RY opened at $145.81 on Friday. The company’s 50 day simple moving average is $143.53 and its 200 day simple moving average is $131.55. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $149.26. The firm has a market capitalization of $204.91 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.46 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.43. The business had revenue of $12.26 billion for the quarter, compared to analyst estimates of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. Royal Bank Of Canada’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.26 earnings per share. On average, analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RY shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Wednesday, October 8th. CIBC cut shares of Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research note on Friday, September 5th. Cowen reaffirmed a “hold” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Erste Group Bank raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Monday, September 22nd. Finally, Wall Street Zen cut shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.50.

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.