Clark Capital Management Group Inc. Boosts Stock Position in Royal Bank Of Canada $RY

Key Points

• Clark Capital Management Group Inc. increased its holdings in Royal Bank Of Canada by 2.0%, purchasing an additional 11,372 shares, bringing its total ownership to 573,009 shares valued at approximately $64.59 million.
• The stock price of Royal Bank Of Canada recently opened at $145.52, with a market capitalization of $204.49 billion and a 52-week range of $106.10 to $147.64.
• Royal Bank Of Canada reported earnings of $2.79 per share for the last quarter, exceeding analyst expectations, and anticipates a total EPS of $9.16 for the current fiscal year.

Clark Capital Management Group Inc. grew its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 2.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 573,009 shares of the financial services provider's stock after buying an additional 11,372 shares during the period. Clark Capital Management Group Inc.'s holdings in Royal Bank Of Canada were worth $64,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. SBI Securities Co. Ltd. lifted 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 buying an additional 84 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Royal Bank Of Canada by 3.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock worth $345,000 after purchasing an additional 90 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Royal Bank Of Canada by 2.8% during the first quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider's stock worth $378,000 after purchasing an additional 91 shares during the last quarter. Csenge Advisory Group grew its holdings in shares of Royal Bank Of Canada by 4.3% during the first quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider's stock worth $255,000 after purchasing an additional 91 shares during the last quarter. Finally, Great Lakes Retirement Inc. grew its holdings in shares of Royal Bank Of Canada by 0.8% during the first quarter. Great Lakes Retirement Inc. now owns 11,362 shares of the financial services provider's stock worth $1,281,000 after purchasing an additional 92 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Price Performance

RY stock traded down $1.24 on Friday, reaching $144.58. 974,951 shares of the company's stock were exchanged, compared to its average volume of 1,105,927. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $147.64. The stock has a fifty day moving average of $134.93 and a 200-day moving average of $125.04. The firm has a market cap of $203.16 billion, a PE ratio of 15.27, a P/E/G ratio of 1.48 and a beta of 0.88.

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 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 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 business earned $3.26 earnings per share. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, equities analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on RY. CIBC cut Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Argus boosted their price objective on Royal Bank Of Canada from $140.00 to $162.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Finally, Cibc World Mkts cut shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a report on Friday. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock 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.