Fiduciary Financial Group LLC Takes $243,000 Position in Royal Bank Of Canada $RY

Key Points

• Fiduciary Financial Group LLC acquired a new stake in the Royal Bank of Canada, purchasing 1,836 shares valued at approximately $243,000.
• Royal Bank of Canada reported earnings per share of $2.79, exceeding estimates of $2.36, but fell short on revenue expectations, generating $12.26 billion versus a forecast of $16.03 billion.
• The stock is currently rated as a Hold by analysts, with four recommending a Buy and an average price target of $177.50.

Fiduciary Financial Group LLC purchased a new position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,836 shares of the financial services provider's stock, valued at approximately $243,000.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after acquiring an additional 575 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Royal Bank Of Canada by 68.3% in the fourth quarter. BNP Paribas Financial Markets now owns 2,148 shares of the financial services provider's stock worth $259,000 after purchasing an additional 872 shares during the last quarter. Man Group plc grew its stake in Royal Bank Of Canada by 29.4% in the 4th quarter. Man Group plc now owns 38,076 shares of the financial services provider's stock valued at $4,589,000 after purchasing an additional 8,646 shares during the period. Quantinno Capital Management LP increased its position in shares of Royal Bank Of Canada by 8.9% during the 4th quarter. Quantinno Capital Management LP now owns 59,153 shares of the financial services provider's stock valued at $7,129,000 after purchasing an additional 4,837 shares during the last quarter. Finally, Polar Asset Management Partners Inc. increased its position in shares of Royal Bank Of Canada by 32.2% during the 4th quarter. Polar Asset Management Partners Inc. now owns 19,837 shares of the financial services provider's stock valued at $2,391,000 after purchasing an additional 4,837 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Stock Down 0.6%

Royal Bank Of Canada stock opened at $144.21 on Friday. The firm has a 50 day simple moving average of $136.19 and a 200 day simple moving average of $125.92. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $147.64. The firm has a market capitalization of $202.65 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.49 and a beta of 0.88.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly 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. The firm had revenue of $12.26 billion during the quarter, compared to analyst estimates of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The business's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the company earned $3.26 earnings per share. On average, analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Cowen restated a "hold" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. BMO Capital Markets reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. National Bank Financial downgraded Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Finally, National Bankshares reissued a "sector perform" rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Four equities 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, the stock currently has an average rating of "Hold" and a consensus price target of $177.50.

About Royal Bank Of Canada

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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