J. Safra Sarasin Holding AG Decreases Stake in Royal Bank Of Canada $RY

Key Points

• J. Safra Sarasin Holding AG has reduced its stake in Royal Bank of Canada by 2.6%, now holding 568,478 shares valued at approximately $74.77 million.
• Vanguard Group Inc. increased its ownership in Royal Bank of Canada by 5.7%, making it one of the largest institutional investors in the company with over $7 billion in value.
• Analysts have mixed views on Royal Bank of Canada, with five ratings as buy and six as hold, alongside a consensus target price of $177.50.

J. Safra Sarasin Holding AG lowered its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 568,478 shares of the financial services provider's stock after selling 15,276 shares during the period. Royal Bank Of Canada accounts for 1.3% of J. Safra Sarasin Holding AG's holdings, making the stock its 19th biggest position. J. Safra Sarasin Holding AG's holdings in Royal Bank Of Canada were worth $74,767,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Royal Bank Of Canada by 5.7% in the first quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock worth $7,048,307,000 after acquiring an additional 3,387,971 shares during the period. TD Asset Management Inc grew its position in Royal Bank Of Canada by 0.9% during the first quarter. TD Asset Management Inc now owns 31,515,404 shares of the financial services provider's stock valued at $3,549,520,000 after buying an additional 277,466 shares during the period. Bank of Nova Scotia grew its position in shares of Royal Bank Of Canada by 8.0% in the first quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock valued at $1,892,975,000 after purchasing an additional 1,249,589 shares during the period. Federation des caisses Desjardins du Quebec grew its position in shares of Royal Bank Of Canada by 3.4% in the first quarter. Federation des caisses Desjardins du Quebec now owns 12,656,362 shares of the financial services provider's stock valued at $1,423,464,000 after purchasing an additional 420,466 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Royal Bank Of Canada by 2.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,431,721 shares of the financial services provider's stock valued at $1,287,927,000 after purchasing an additional 319,270 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RY shares. Erste Group Bank raised shares of Royal Bank Of Canada from a "hold" rating to a "buy" rating in a research note on Monday, September 22nd. Argus lifted 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 research note on Friday, August 29th. National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. 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. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $177.50.

Royal Bank Of Canada Stock Down 0.0%

RY stock opened at $147.30 on Thursday. The company has a fifty day moving average price of $139.94 and a 200 day moving average price of $128.82. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $149.26. The company has a market cap of $207.01 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.49 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

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 net margin of 14.03% and a return on equity of 16.12%. Royal Bank Of Canada's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.26 EPS. Sell-side analysts expect 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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