QV Investors Inc. Increases Stock Position in Royal Bank Of Canada $RY

QV Investors Inc. boosted its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 457,766 shares of the financial services provider’s stock after acquiring an additional 3,493 shares during the period. Royal Bank Of Canada accounts for about 5.9% of QV Investors Inc.’s holdings, making the stock its 4th biggest position. QV Investors Inc.’s holdings in Royal Bank Of Canada were worth $60,209,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in RY. Trust Co of the South increased its stake in shares of Royal Bank Of Canada by 0.3% in the second quarter. Trust Co of the South now owns 25,121 shares of the financial services provider’s stock worth $3,305,000 after purchasing an additional 78 shares in the last quarter. Brucke Financial Inc. increased its stake in shares of Royal Bank Of Canada by 1.9% in the second quarter. Brucke Financial Inc. now owns 4,264 shares of the financial services provider’s stock worth $561,000 after purchasing an additional 79 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Royal Bank Of Canada by 13.0% in the first quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 84 shares in the last quarter. Contravisory Investment Management Inc. increased its stake in shares of Royal Bank Of Canada by 4.3% in the second quarter. Contravisory Investment Management Inc. now owns 2,041 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 85 shares in the last quarter. Finally, Csenge Advisory Group increased its stake in shares of Royal Bank Of Canada by 4.3% in the first quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

RY stock opened at $147.73 on Friday. 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 has a one year low of $106.10 and a one year high of $149.26. The stock has a market cap of $207.60 billion, a PE ratio of 15.60, a P/E/G ratio of 1.48 and a beta of 0.86. The firm has a 50 day simple moving average of $144.70 and a two-hundred day simple moving average of $132.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.43. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The business had revenue of $12.26 billion during the quarter, compared to analysts’ expectations of $16.03 billion. During the same quarter in the previous year, the company earned $3.26 EPS. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Analysts Set New Price Targets

RY has been the subject of several recent research reports. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Zacks Research raised shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Saturday. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.