Live Oak Investment Partners Takes $409,000 Position in Royal Bank Of Canada $RY

Key Points

• Live Oak Investment Partners has acquired a new stake in Royal Bank Of Canada, purchasing 3,108 shares valued at approximately $409,000.
• The Royal Bank Of Canada reported earnings of $2.79 per share for the most recent quarter, exceeding analysts' expectations of $2.36, and its revenue increased by 16.1% compared to the same quarter last year.
• Institutional investors now hold 45.31% of the Royal Bank Of Canada's stock, indicating significant interest from larger financial entities.

Live Oak Investment Partners purchased a new stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,108 shares of the financial services provider's stock, valued at approximately $409,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Trust Co of the South lifted its holdings in Royal Bank Of Canada by 0.3% in the second quarter. Trust Co of the South now owns 25,121 shares of the financial services provider's stock valued at $3,305,000 after buying an additional 78 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of Royal Bank Of Canada by 13.0% during the first quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 84 shares during the period. Contravisory Investment Management Inc. raised its holdings in shares of Royal Bank Of Canada by 4.3% during the second quarter. Contravisory Investment Management Inc. now owns 2,041 shares of the financial services provider's stock valued at $268,000 after purchasing an additional 85 shares during the period. Csenge Advisory Group raised its holdings in shares of Royal Bank Of Canada by 4.3% during the first quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider's stock valued at $255,000 after purchasing an additional 91 shares during the period. Finally, Great Lakes Retirement Inc. raised its holdings in shares of Royal Bank Of Canada by 0.8% during the first quarter. Great Lakes Retirement Inc. now owns 11,362 shares of the financial services provider's stock valued at $1,281,000 after purchasing an additional 92 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Trading Down 0.5%

NYSE:RY opened at $145.09 on Thursday. 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 firm has a market cap of $203.90 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $149.26. The firm has a 50-day moving average price of $141.49 and a two-hundred day moving average price of $129.95.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its 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 net margin of 14.03% and a return on equity of 16.12%. The firm had revenue of $12.26 billion during the quarter, compared to the consensus estimate of $16.03 billion. During the same period in the prior year, the firm earned $3.26 EPS. The company's revenue was up 16.1% compared to the same quarter last year. On average, equities analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RY shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Royal Bank Of Canada in a report on Wednesday. National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Wall Street Zen upgraded shares of Royal Bank Of Canada from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Finally, Cowen restated a "hold" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $177.50.

Royal Bank Of Canada Company 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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