Graham Capital Management L.P. Acquires 11,532 Shares of Royal Bank Of Canada $RY

Key Points

• Graham Capital Management L.P. increased its holdings in the Royal Bank of Canada by 68.1%, acquiring an additional 11,532 shares to reach a total of 28,478 shares valued at approximately $3.21 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Royal Bank Of Canada, with an average price target of $177.50 and recent upgrades from several firms, including Argus raising its target from $140 to $162.
• Royal Bank of Canada reported a quarterly EPS of $2.79, exceeding estimates, along with revenue of $12.26 billion, which was below expectations, showing a 16.1% year-over-year revenue growth.

Graham Capital Management L.P. raised its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 68.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,478 shares of the financial services provider's stock after acquiring an additional 11,532 shares during the period. Graham Capital Management L.P.'s holdings in Royal Bank Of Canada were worth $3,210,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RY. Goldman Sachs Group Inc. raised its holdings in shares of Royal Bank Of Canada by 129.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider's stock worth $796,227,000 after buying an additional 3,990,839 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Royal Bank Of Canada by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock worth $7,048,307,000 after buying an additional 3,387,971 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Royal Bank Of Canada by 104.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 6,346,768 shares of the financial services provider's stock worth $715,043,000 after buying an additional 3,244,266 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Royal Bank Of Canada by 8.0% in the 1st quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock worth $1,892,975,000 after buying an additional 1,249,589 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Royal Bank Of Canada in the 1st quarter worth approximately $114,327,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 0.5%

RY stock traded up $0.77 during midday trading on Wednesday, hitting $145.52. 653,583 shares of the company's stock were exchanged, compared to its average volume of 1,116,798. The stock's fifty day moving average price is $134.32 and its 200-day moving average price is $124.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $204.49 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.49 and a beta of 0.88. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $147.64.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.43. The firm had revenue of $12.26 billion for 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 company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.26 earnings per share. Research analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Cowen reaffirmed a "hold" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Argus raised their price target on Royal Bank Of Canada from $140.00 to $162.00 and gave the company a "buy" rating in a report on Friday, August 29th. National Bankshares reaffirmed a "sector perform" rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Finally, CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $177.50.

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.