6,300 Shares in Royal Bank Of Canada $RY Bought by New England Research & Management Inc.

Key Points

• New England Research & Management Inc. acquired 6,300 shares of Royal Bank of Canada, valued at approximately $829,000, as disclosed in their latest SEC Form 13F filing.
• Vanguard Group Inc. and other institutional investors also increased their stakes in Royal Bank of Canada, with Vanguard raising its holdings by 5.7% in the first quarter alone.
• Royal Bank of Canada reported an EPS of $2.79 for its latest quarter, exceeding the consensus estimate of $2.36, despite its revenue being below analysts' expectations.

New England Research & Management Inc. bought a new stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,300 shares of the financial services provider's stock, valued at approximately $829,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Royal Bank Of Canada by 5.7% during the 1st 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 during the period. TD Asset Management Inc raised its stake in shares of Royal Bank Of Canada by 0.9% during the 1st quarter. TD Asset Management Inc now owns 31,515,404 shares of the financial services provider's stock worth $3,549,520,000 after purchasing an additional 277,466 shares during the period. Bank of Nova Scotia raised its stake in Royal Bank Of Canada by 8.0% in the 1st quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock valued at $1,892,975,000 after acquiring an additional 1,249,589 shares during the period. Federation des caisses Desjardins du Quebec raised its stake in Royal Bank Of Canada by 3.4% in the 1st 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 shares of Royal Bank Of Canada by 2.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,431,721 shares of the financial services provider's stock valued at $1,287,927,000 after buying an additional 319,270 shares during the period. Institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Price Performance

Shares of Royal Bank Of Canada stock opened at $145.36 on Tuesday. The business has a 50 day simple moving average of $136.46 and a two-hundred day simple moving average of $126.18. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $147.64. The stock has a market capitalization of $204.26 billion, a P/E ratio of 15.35, a PEG ratio of 1.48 and a beta of 0.88. 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 - Get Free Report) TSE: RY last posted its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $2.36 by $0.43. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The firm had revenue of $12.26 billion during the quarter, compared to analysts' expectations of $16.03 billion. During the same quarter last year, the firm earned $3.26 earnings per share. The business's revenue for the quarter was up 16.1% on a year-over-year basis. As a group, analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on RY. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. CIBC downgraded Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a report on Friday, September 5th. Cowen reiterated a "hold" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Cibc World Mkts downgraded Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a report on Friday, September 5th. Finally, Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Four 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.com, the company currently has an average rating of "Hold" and an average 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.

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