Intech Investment Management LLC Has $14.28 Million Position in Royal Bank Of Canada $RY

Key Points

• Intech Investment Management LLC increased its position in Royal Bank Of Canada by 22.6%, holding a total of 126,753 shares valued at approximately $14.28 million.
• Several institutional investors, including Campbell & CO and JPMorgan Chase & Co., have also significantly boosted their stakes in Royal Bank Of Canada during the 1st quarter.
• Royal Bank Of Canada reported a quarterly earnings per share of $2.79, exceeding estimates of $2.36, with revenues noted at $12.26 billion, although below the projected $16.03 billion.

Intech Investment Management LLC raised its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 22.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,753 shares of the financial services provider's stock after purchasing an additional 23,360 shares during the quarter. Intech Investment Management LLC's holdings in Royal Bank Of Canada were worth $14,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Royal Bank Of Canada by 1,187.6% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 25,740 shares of the financial services provider's stock worth $2,901,000 after buying an additional 23,741 shares during the period. Baskin Financial Services Inc. boosted its holdings in shares of Royal Bank Of Canada by 5.0% during the first quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider's stock worth $7,079,000 after acquiring an additional 3,006 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Royal Bank Of Canada by 1.1% in the first quarter. Envestnet Asset Management Inc. now owns 341,776 shares of the financial services provider's stock valued at $38,525,000 after purchasing an additional 3,767 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Royal Bank Of Canada by 4.4% during the first quarter. JPMorgan Chase & Co. now owns 6,458,212 shares of the financial services provider's stock worth $727,970,000 after purchasing an additional 271,531 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Royal Bank Of Canada by 4.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 86,847 shares of the financial services provider's stock worth $9,789,000 after purchasing an additional 3,358 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RY has been the subject of a number of research reports. CIBC downgraded Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a report on Friday, September 5th. Wall Street Zen raised shares of Royal Bank Of Canada from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Argus raised their target price on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a "buy" rating in a report on Friday, August 29th. National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. 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 given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $177.50.

Royal Bank Of Canada Price Performance

RY stock opened at $144.02 on Wednesday. The company has a market capitalization of $202.39 billion, a P/E ratio of 15.21, a PEG ratio of 1.48 and a beta of 0.88. The company has a fifty day moving average price of $135.42 and a 200-day moving average price of $125.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $147.64.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings data 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. The business 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%.Royal Bank Of Canada's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.26 earnings per share. As a group, equities analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current 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.

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