Focus Partners Wealth Sells 17,592 Shares of Royal Bank Of Canada $RY

Key Points

• Focus Partners Wealth has reduced its stake in Royal Bank Of Canada by 8.1%, holding 199,481 shares valued at approximately $22.5 million after selling 17,592 shares in Q1.
• The Royal Bank Of Canada reported an earnings per share (EPS) of $2.79 for the last quarter, exceeding analysts' expectations of $2.36.
• In recent analyst ratings, several firms have maintained a Hold rating on the stock, with an average price target of $177.50.

Focus Partners Wealth reduced its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 8.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,481 shares of the financial services provider's stock after selling 17,592 shares during the quarter. Focus Partners Wealth's holdings in Royal Bank Of Canada were worth $22,486,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in Royal Bank Of Canada by 33.1% during the 4th 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Royal Bank Of Canada by 3.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock worth $345,000 after buying an additional 90 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Royal Bank Of Canada by 68.3% in the 4th quarter. BNP Paribas Financial Markets now owns 2,148 shares of the financial services provider's stock worth $259,000 after buying an additional 872 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Royal Bank Of Canada by 16.2% in the 4th quarter. Cetera Investment Advisers now owns 40,583 shares of the financial services provider's stock worth $4,891,000 after buying an additional 5,663 shares during the last quarter. Finally, Ethic Inc. bought a new position in shares of Royal Bank Of Canada in the 4th quarter worth about $544,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on RY shares. Cibc World Mkts cut shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a report on Friday, September 5th. CIBC cut shares of Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a report on Friday, September 5th. Cowen reaffirmed a "hold" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. National Bank Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $177.50.

Royal Bank Of Canada Trading Up 0.8%

Shares of Royal Bank Of Canada stock traded up $1.22 during trading on Monday, hitting $145.36. The stock had a trading volume of 798,620 shares, compared to its average volume of 1,213,745. The stock has a 50 day simple moving average of $136.19 and a 200 day simple moving average of $125.99. The company has a market capitalization of $204.26 billion, a PE ratio of 15.35, a P/E/G ratio of 1.48 and a beta of 0.88. 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 1 year low of $106.10 and a 1 year high of $147.64.

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 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 net margin of 14.03% and a return on equity of 16.12%. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company posted $3.26 earnings per share. On average, research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

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.