Pure Financial Advisors LLC bought a new position in shares of Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) in the second quarter, HoldingsChannel.com reports. The firm bought 2,952 shares of the financial services provider’s stock, valued at approximately $611,000.
A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Royal Bank Of Canada during the 4th quarter valued at approximately $3,472,382,000. Bank of Nova Scotia acquired a new position in Royal Bank Of Canada during the 2nd quarter valued at $2,549,157,000. The Manufacturers Life Insurance Company bought a new stake in Royal Bank Of Canada in the 2nd quarter valued at $2,296,717,000. Canada Pension Plan Investment Board acquired a new stake in Royal Bank Of Canada in the 2nd quarter worth $2,275,797,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Royal Bank Of Canada in the 2nd quarter worth $2,260,820,000. 45.31% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have commented on RY. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $225.00.
Royal Bank Of Canada Stock Up 0.2%
Shares of RY opened at $207.52 on Thursday. The company has a market capitalization of $287.75 billion, a P/E ratio of 18.65, a PEG ratio of 1.56 and a beta of 0.80. Royal Bank Of Canada has a one year low of $141.37 and a one year high of $218.57. The business’s 50 day simple moving average is $208.92 and its 200-day simple moving average is $187.56. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82.
Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last issued its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.12 EPS. As a group, sell-side analysts predict that Royal Bank Of Canada will post 11.59 EPS for the current fiscal year.
Royal Bank Of Canada Profile
Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.
RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.
Read More
- Five stocks we like better than Royal Bank Of Canada
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY).
Receive News & Ratings for Royal Bank Of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank Of Canada and related companies with MarketBeat.com's FREE daily email newsletter.
