Louisbourg Investments Inc. Reduces Stock Position in Royal Bank Of Canada $RY

Key Points

• Louisbourg Investments Inc. has reduced its stake in the Royal Bank Of Canada by 5.8%, owning 28,233 shares valued at approximately $3,714,000 after selling 1,744 shares in the second quarter.
• Analysts have mixed views on RBC's stock, with recent ratings showing six "Buy" ratings, six "Hold" ratings, and a consensus target price of $177.50.
• Royal Bank Of Canada reported an EPS of $2.79 for the last quarter, exceeding expectations, but its revenue of $12.26 billion fell short of analyst forecasts.

Louisbourg Investments Inc. cut its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 5.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,233 shares of the financial services provider's stock after selling 1,744 shares during the period. Louisbourg Investments Inc.'s holdings in Royal Bank Of Canada were worth $3,714,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Trust Co of the South increased 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 in the last quarter. Brucke Financial Inc. increased its stake in shares of Royal Bank Of Canada by 1.9% during the 2nd quarter. Brucke Financial Inc. now owns 4,264 shares of the financial services provider's stock worth $561,000 after purchasing an additional 79 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Royal Bank Of Canada by 13.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider's stock worth $82,000 after purchasing an additional 84 shares in the last quarter. Contravisory Investment Management Inc. increased its stake in shares of Royal Bank Of Canada by 4.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 2,041 shares of the financial services provider's stock worth $268,000 after purchasing an additional 85 shares in the last quarter. Finally, Csenge Advisory Group increased its stake in shares of Royal Bank Of Canada by 4.3% during the 1st quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider's stock worth $255,000 after purchasing an additional 91 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RY shares. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Wall Street Zen cut shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday. BMO Capital Markets reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Royal Bank Of Canada in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $177.50.

Royal Bank Of Canada Stock Down 1.1%

RY stock opened at $143.61 on Friday. The stock has a market capitalization of $201.82 billion, a P/E ratio of 15.16, a PEG ratio of 1.47 and a beta of 0.86. 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 one year low of $106.10 and a one year high of $149.26. The company has a 50 day moving average price of $142.13 and a two-hundred day moving average price of $130.34.

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 EPS for the quarter, topping the consensus estimate of $2.36 by $0.43. The firm had revenue of $12.26 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.26 EPS. As a group, sell-side analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

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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