Lincluden Management Ltd. cut its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 8.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 495,708 shares of the financial services provider's stock after selling 47,639 shares during the quarter. Royal Bank Of Canada accounts for 7.2% of Lincluden Management Ltd.'s portfolio, making the stock its 2nd largest position. Lincluden Management Ltd.'s holdings in Royal Bank Of Canada were worth $65,271,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of RY. Goldman Sachs Group Inc. increased its position in shares of Royal Bank Of Canada by 129.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider's stock valued at $796,227,000 after purchasing an additional 3,990,839 shares during the period. Vanguard Group Inc. increased its position in shares of Royal Bank Of Canada by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock valued at $7,048,307,000 after purchasing an additional 3,387,971 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Royal Bank Of Canada by 104.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 6,346,768 shares of the financial services provider's stock valued at $715,043,000 after purchasing an additional 3,244,266 shares during the period. Bank of Nova Scotia increased its position in shares of Royal Bank Of Canada by 8.0% during the 1st 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. Finally, Nuveen LLC acquired a new position in shares of Royal Bank Of Canada during the 1st quarter valued at $114,327,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.
Royal Bank Of Canada Stock Performance
Shares of RY stock opened at $143.61 on Friday. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $149.26. 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 company has a market capitalization of $201.82 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 1.45 and a beta of 0.86. The stock's fifty day simple moving average is $142.13 and its 200-day simple moving average is $130.44.
Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings results 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. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The business had revenue of $12.26 billion for the quarter, compared to the consensus estimate of $16.03 billion. During the same quarter in the previous year, the company posted $3.26 earnings per share. Royal Bank Of Canada's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, sell-side analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on RY. Cowen reiterated a "hold" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Erste Group Bank upgraded Royal Bank Of Canada from a "hold" rating to a "buy" rating in a report on Monday, September 22nd. Scotiabank restated an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Cibc World Mkts cut Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a report on Friday, September 5th. Finally, CIBC cut Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a report on Friday, September 5th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $177.50.
Get Our Latest Report on RY
Royal Bank Of Canada Profile
(
Free Report)
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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