HB Wealth Management LLC Has $431,000 Position in Royal Bank Of Canada $RY

Key Points

• HB Wealth Management LLC reduced its stake in Royal Bank Of Canada by 38.7%, holding 3,273 shares valued at $431,000 following a sale of 2,070 shares.
• Royal Bank Of Canada reported $2.79 EPS for the last quarter, exceeding analysts' estimates of $2.36, with revenues of $12.26 billion.
• Analyst ratings for Royal Bank Of Canada are mixed, with six analysts rating it a Buy and six as a Hold, while the average target price is set at $177.50.

HB Wealth Management LLC lessened its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 38.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,273 shares of the financial services provider's stock after selling 2,070 shares during the quarter. HB Wealth Management LLC's holdings in Royal Bank Of Canada were worth $431,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake 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 worth $279,000 after acquiring an additional 575 shares during the last quarter. GAMMA Investing LLC grew its stake in Royal Bank Of Canada by 236,616.7% in the first quarter. GAMMA Investing LLC now owns 14,203 shares of the financial services provider's stock valued at $1,601,000 after purchasing an additional 14,197 shares in the last quarter. Sivia Capital Partners LLC increased its position in Royal Bank Of Canada by 2.8% in the 1st quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider's stock worth $378,000 after purchasing an additional 91 shares during the last quarter. KMG Fiduciary Partners LLC raised its stake in shares of Royal Bank Of Canada by 10.8% during the 1st quarter. KMG Fiduciary Partners LLC now owns 19,467 shares of the financial services provider's stock worth $2,194,000 after purchasing an additional 1,891 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Royal Bank Of Canada by 10.2% during the 1st quarter. Farther Finance Advisors LLC now owns 8,956 shares of the financial services provider's stock worth $1,018,000 after purchasing an additional 831 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RY. Erste Group Bank upgraded Royal Bank Of Canada from a "hold" rating to a "buy" rating in a report on Monday, September 22nd. BMO Capital Markets restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Cowen reiterated a "hold" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Cibc World Mkts downgraded shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 5th. Finally, Argus boosted their price target on Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Royal Bank Of Canada currently has an average rating of "Moderate Buy" and an average target price of $177.50.

Royal Bank Of Canada Stock Up 0.4%

RY stock opened at $146.95 on Monday. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $149.26. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a market cap of $206.52 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.49 and a beta of 0.86. The business's 50-day simple moving average is $140.52 and its 200 day simple moving average is $129.50.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data 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 company had revenue of $12.26 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company earned $3.26 EPS. On average, research analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current 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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