Focus Partners Advisor Solutions LLC Raises Stake in Royal Bank Of Canada $RY

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in the Royal Bank of Canada by 20.2% during the first quarter, now owning 10,561 shares valued at approximately $1.19 million.
• Multiple institutional investors, including Campbell & CO Investment Adviser LLC and JPMorgan Chase & Co., have also significantly raised their stakes in Royal Bank of Canada, demonstrating growing confidence in the financial services provider.
• Royal Bank of Canada reported a quarterly EPS of $2.79, exceeding the consensus estimate of $2.36, marking a notable increase in revenue compared to the prior year.

Focus Partners Advisor Solutions LLC raised its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 20.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,561 shares of the financial services provider's stock after acquiring an additional 1,773 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Royal Bank Of Canada were worth $1,190,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Royal Bank Of Canada by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock valued at $7,048,307,000 after acquiring an additional 3,387,971 shares during the last quarter. TD Asset Management Inc raised its position in shares of Royal Bank Of Canada by 0.9% during the 1st quarter. TD Asset Management Inc now owns 31,515,404 shares of the financial services provider's stock valued at $3,549,520,000 after acquiring an additional 277,466 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Royal Bank Of Canada by 8.0% during the 1st quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock valued at $1,892,975,000 after acquiring an additional 1,249,589 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Royal Bank Of Canada by 2.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,431,721 shares of the financial services provider's stock valued at $1,287,927,000 after purchasing an additional 319,270 shares in the last quarter. Finally, Scotia Capital Inc. increased its stake in Royal Bank Of Canada by 0.4% in the first quarter. Scotia Capital Inc. now owns 8,924,206 shares of the financial services provider's stock valued at $1,003,385,000 after purchasing an additional 33,183 shares in the last quarter. Institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Stock Down 0.8%

Shares of NYSE:RY traded down $1.24 during midday trading on Friday, hitting $144.58. 974,951 shares of the company's stock were exchanged, compared to its average volume of 1,105,927. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $147.64. The company has a market cap of $203.16 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.48 and a beta of 0.88. The stock has a 50 day moving average price of $134.93 and a 200-day moving average price of $125.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

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 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $16.03 billion. During the same period in the previous year, the company earned $3.26 earnings per share. The company's quarterly revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RY shares. National Bank Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. BMO Capital Markets reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Cibc World Mkts lowered Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a report on Friday. Argus upped their target price 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. Finally, Cowen restated a "hold" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" 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.