Canada Pension Plan Investment Board Boosts Stock Holdings in Royal Bank Of Canada $RY

Key Points

• Canada Pension Plan Investment Board increased its stake in Royal Bank of Canada by 104.6%, now holding over 6.3 million shares valued at approximately $715 million.
• Royal Bank of Canada reported an earnings per share (EPS) of $2.79, surpassing analyst expectations of $2.36, with revenue reaching $12.26 billion.
• Recent analyst ratings for Royal Bank of Canada include a mix of reaffirmations and downgrades, with an average rating of "Moderate Buy" and a consensus target price of $193.00.

Canada Pension Plan Investment Board lifted its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 104.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,346,768 shares of the financial services provider's stock after buying an additional 3,244,266 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.45% of Royal Bank Of Canada worth $715,043,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its holdings in Royal Bank Of Canada by 13.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider's stock worth $82,000 after acquiring an additional 84 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Royal Bank Of Canada by 3.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock valued at $345,000 after acquiring an additional 90 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Royal Bank Of Canada by 2.8% during the 1st quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider's stock valued at $378,000 after acquiring an additional 91 shares in the last quarter. Csenge Advisory Group boosted its position in Royal Bank Of Canada by 4.3% during the 1st quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider's stock valued at $255,000 after acquiring an additional 91 shares in the last quarter. Finally, Great Lakes Retirement Inc. boosted its position in Royal Bank Of Canada by 0.8% during the 1st quarter. Great Lakes Retirement Inc. now owns 11,362 shares of the financial services provider's stock valued at $1,281,000 after acquiring an additional 92 shares in the last quarter. Institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Stock Performance

RY traded down $0.43 on Monday, reaching $145.42. 858,667 shares of the stock were exchanged, compared to its average volume of 1,136,119. The company's 50-day moving average price is $133.28 and its 200 day moving average price is $124.19. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $147.64. 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 firm has a market capitalization of $204.35 billion, a PE ratio of 15.36, a PEG ratio of 1.49 and a beta of 0.88.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.43. The business 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%.The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.26 EPS. As a group, sell-side analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RY. National Bankshares reaffirmed a "sector perform" rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Wall Street Zen upgraded Royal Bank Of Canada from a "sell" rating to a "hold" rating in a report on Saturday. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. BMO Capital Markets reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday. Finally, Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average 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.