Goldman Sachs Group Inc. Boosts Stock Position in Royal Bank Of Canada $RY

Key Points

• Goldman Sachs Group Inc. increased its stake in Royal Bank of Canada by 129.9% in Q1, owning over 7 million shares worth approximately $796 million.
• Analyst ratings for Royal Bank of Canada have shown mixed signals, with Barclays maintaining an "overweight" rating while CIBC and National Bank Financial downgraded its rating to "neutral" and "sector perform" respectively.
• Royal Bank of Canada reported a quarterly EPS of $2.79, exceeding estimates of $2.36, despite a revenue decline compared to analyst expectations, showing a 16.1% revenue increase year-over-year.

Goldman Sachs Group Inc. raised its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 129.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,063,761 shares of the financial services provider's stock after purchasing an additional 3,990,839 shares during the quarter. Goldman Sachs Group Inc. owned 0.50% of Royal Bank Of Canada worth $796,227,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in Royal Bank Of Canada during the 4th quarter valued at about $25,000. Sunbelt Securities Inc. boosted its stake in shares of Royal Bank Of Canada by 2,272.7% in the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock worth $29,000 after buying an additional 250 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada in the first quarter worth about $32,000. Cullen Frost Bankers Inc. boosted its stake in shares of Royal Bank Of Canada by 295.4% in the first quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock worth $39,000 after buying an additional 257 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in shares of Royal Bank Of Canada by 93.7% in the first quarter. AdvisorNet Financial Inc now owns 368 shares of the financial services provider's stock worth $41,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. CIBC downgraded Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday. BMO Capital Markets restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Cibc World Mkts downgraded Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Friday. Finally, National Bank Financial cut Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Royal Bank Of Canada presently has an average rating of "Hold" and an average target price of $177.50.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $144.58 on Monday. The stock has a market capitalization of $203.16 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.48 and a beta of 0.88. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $147.64. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average of $134.93 and a 200 day moving average of $125.08.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share 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 company had revenue of $12.26 billion during the quarter, compared to analysts' expectations of $16.03 billion. During the same quarter in the prior year, the firm posted $3.26 EPS. Royal Bank Of Canada's quarterly 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 fiscal year.

Royal Bank Of Canada 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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