ARGA Investment Management LP Buys Shares of 31,684 Royal Bank Of Canada $RY

Key Points

• ARGA Investment Management LP acquired 31,684 shares of Royal Bank of Canada, valued at approximately $4,175,000, in the second quarter of the year.
• Royal Bank of Canada reported an earnings per share (EPS) of $2.79 for the latest quarter, exceeding the consensus estimate of $2.36, along with a revenue of $12.26 billion.
• Institutional investors now own 45.31% of Royal Bank of Canada's stock, with several firms increasing their stakes significantly during the first quarter.

ARGA Investment Management LP bought a new stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 31,684 shares of the financial services provider's stock, valued at approximately $4,175,000.

Other institutional investors also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC lifted its stake in shares of Royal Bank Of Canada by 1,187.6% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 25,740 shares of the financial services provider's stock worth $2,901,000 after acquiring an additional 23,741 shares during the period. Baskin Financial Services Inc. lifted its stake in shares of Royal Bank Of Canada by 5.0% in the 1st quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider's stock worth $7,079,000 after acquiring an additional 3,006 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Royal Bank Of Canada by 1.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 341,776 shares of the financial services provider's stock worth $38,525,000 after acquiring an additional 3,767 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Royal Bank Of Canada by 4.4% in the 1st quarter. JPMorgan Chase & Co. now owns 6,458,212 shares of the financial services provider's stock worth $727,970,000 after acquiring an additional 271,531 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Royal Bank Of Canada by 4.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 86,847 shares of the financial services provider's stock worth $9,789,000 after acquiring an additional 3,358 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Performance

RY stock opened at $147.49 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $207.27 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 1.47 and a beta of 0.86. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $149.26. The firm has a 50 day moving average of $144.48 and a two-hundred day moving average of $132.38.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping 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 business had revenue of $12.26 billion during the quarter, compared to the consensus estimate of $16.03 billion. During the same period in the prior year, the firm earned $3.26 EPS. Royal Bank Of Canada's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on RY. Cibc World Mkts lowered shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. National Bankshares reissued a "sector perform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. CIBC lowered shares of Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday, September 5th. Finally, Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. One investment 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. Based on data from MarketBeat, Royal Bank Of Canada has a consensus rating of "Moderate Buy" and a consensus target price of $177.50.

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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