Allianz Asset Management GmbH Decreases Stake in Royal Bank Of Canada $RY

Key Points

• Allianz Asset Management GmbH has reduced its stake in Royal Bank of Canada by 18.2%, now holding 217,125 shares worth approximately $28.6 million.
• Despite Allianz's decrease, other institutional investors have increased their holdings significantly, with Sunbelt Securities boosting its position by 2,272.7%.
• Royal Bank of Canada reports a quarterly EPS of $2.79, surpassing expectations, while analysts maintain a consensus rating of "Moderate Buy" with a target price of $177.50.

Allianz Asset Management GmbH decreased its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 18.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 217,125 shares of the financial services provider's stock after selling 48,302 shares during the period. Allianz Asset Management GmbH's holdings in Royal Bank Of Canada were worth $28,557,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Sunbelt Securities Inc. lifted its position in shares of Royal Bank Of Canada by 2,272.7% during the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Royal Bank Of Canada during the first quarter worth about $32,000. Cullen Frost Bankers Inc. lifted its position in shares of Royal Bank Of Canada by 295.4% during the first quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock worth $39,000 after purchasing an additional 257 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Royal Bank Of Canada during the first quarter worth about $45,000. Finally, Roxbury Financial LLC lifted its position in shares of Royal Bank Of Canada by 44.3% during the second quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider's stock worth $45,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

RY has been the topic of a number of recent research reports. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Wall Street Zen cut shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, October 11th. Argus raised their target price on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Cowen restated a "hold" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Finally, CIBC cut shares of Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a report on Friday, September 5th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Royal Bank Of Canada presently has an average rating of "Moderate Buy" and a consensus target price of $177.50.

Royal Bank Of Canada Stock Up 0.3%

Shares of RY opened at $145.81 on Friday. The company has a 50-day simple moving average of $143.53 and a 200-day simple moving average of $131.55. 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 quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $149.26.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.43. The business had revenue of $12.26 billion during 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%. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.26 earnings per share. On average, equities research analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada 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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