Ascent Group LLC Has $568,000 Holdings in Royal Bank Of Canada $RY

Key Points

• Ascent Group LLC has increased its stake in the Royal Bank of Canada by 201.9%, holding shares worth approximately $568,000 as of the latest SEC filing.
• Royal Bank of Canada reported $2.79 earnings per share for the most recent quarter, surpassing analyst expectations of $2.36, while revenue fell short of expectations at $12.26 billion.
• Analyst ratings for Royal Bank of Canada vary, with a consensus rating of "Hold" and a price target ranging from $140.00 to $177.50.

Ascent Group LLC increased its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 201.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,041 shares of the financial services provider's stock after purchasing an additional 3,371 shares during the period. Ascent Group LLC's holdings in Royal Bank Of Canada were worth $568,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RY. Park Square Financial Group LLC acquired a new stake in shares of Royal Bank Of Canada during the fourth quarter worth $25,000. Sunbelt Securities Inc. grew its stake 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 period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Royal Bank Of Canada during the first quarter worth $32,000. Cullen Frost Bankers Inc. grew its stake 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 period. Finally, AdvisorNet Financial Inc grew its stake in shares of Royal Bank Of Canada by 93.7% during the first quarter. AdvisorNet Financial Inc now owns 368 shares of the financial services provider's stock worth $41,000 after purchasing an additional 178 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Up 0.1%

RY stock opened at $144.20 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $202.64 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.48 and a beta of 0.88. The business has a 50-day moving average of $135.69 and a 200-day moving average of $125.52. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $147.64.

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 for the quarter, topping the consensus estimate of $2.36 by $0.43. The company had revenue of $12.26 billion during the quarter, compared to analysts' expectations of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.Royal Bank Of Canada's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.26 earnings per share. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

RY has been the subject of a number of analyst reports. Argus lifted their price objective on Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Cibc World Mkts cut Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th. CIBC cut Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday, September 5th. Wall Street Zen raised Royal Bank Of Canada from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.