2,091 Shares in Royal Bank Of Canada $RY Purchased by Cherokee Insurance Co

Cherokee Insurance Co acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,091 shares of the financial services provider’s stock, valued at approximately $275,000.

Several other hedge funds have also modified their holdings of RY. Vanguard Group Inc. increased its holdings in shares of Royal Bank Of Canada by 5.7% in the first quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider’s stock valued at $7,048,307,000 after purchasing an additional 3,387,971 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Royal Bank Of Canada by 0.9% in the 2nd quarter. TD Asset Management Inc now owns 31,812,382 shares of the financial services provider’s stock valued at $4,184,220,000 after buying an additional 296,978 shares during the period. Bank of Nova Scotia raised its position in shares of Royal Bank Of Canada by 8.0% during the first quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider’s stock worth $1,892,975,000 after acquiring an additional 1,249,589 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in shares of Royal Bank Of Canada by 3.4% during the first quarter. Federation des caisses Desjardins du Quebec now owns 12,656,362 shares of the financial services provider’s stock valued at $1,423,464,000 after acquiring an additional 420,466 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Royal Bank Of Canada by 2.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,431,721 shares of the financial services provider’s stock worth $1,287,927,000 after purchasing an additional 319,270 shares during the period. 45.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RY has been the subject of several recent research reports. Erste Group Bank raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. Cibc World Mkts lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Wednesday, October 8th. CIBC downgraded Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research note on Friday, September 5th. Finally, Zacks Research lowered Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $177.50.

Royal Bank Of Canada Price Performance

NYSE RY opened at $148.94 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $209.05 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.48 and a beta of 0.86. The business has a 50 day simple moving average of $146.30 and a 200 day simple moving average of $135.80. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $149.44.

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 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $12.26 billion during the quarter, compared to analysts’ expectations of $16.03 billion. During the same quarter in the prior year, the company earned $3.26 earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. Analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

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.