Columbus Macro LLC Takes Position in Royal Bank Of Canada $RY

Key Points

• Columbus Macro LLC has acquired a new stake in Royal Bank Of Canada (NYSE:RY), purchasing 17,781 shares valued at approximately $2,339,000.
• During the first quarter, several institutional investors, including Campbell & CO and JPMorgan Chase, significantly increased their stakes in Royal Bank Of Canada, indicating strong institutional interest.
• Royal Bank Of Canada reported $2.79 EPS for the latest quarter, exceeding analysts' expectations, with revenue of $12.26 billion despite a decline from the previous year.

Columbus Macro LLC purchased a new stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,781 shares of the financial services provider's stock, valued at approximately $2,339,000.

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

Royal Bank Of Canada Trading Down 0.5%

Royal Bank Of Canada stock opened at $145.09 on Thursday. 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 52 week low of $106.10 and a 52 week high of $149.26. The company has a market capitalization of $203.90 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. The stock has a 50-day moving average price of $141.49 and a 200 day moving average price of $129.95.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.43. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The firm had revenue of $12.26 billion during the quarter, compared to the consensus estimate of $16.03 billion. During the same quarter in the previous year, the company posted $3.26 earnings per share. The company's revenue was up 16.1% compared to the same quarter last year. Sell-side analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on RY shares. National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Argus lifted their target price 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. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. CIBC lowered Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday, September 5th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Royal Bank Of Canada in a research note on Wednesday. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.

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