Magnetar Financial LLC Takes $10.77 Million Position in Royal Bank Of Canada $RY

Key Points

• Magnetar Financial LLC has invested approximately $10.77 million in shares of the Royal Bank of Canada, acquiring 95,530 shares during the first quarter.
• Multiple hedge funds, including Goldman Sachs and Vanguard Group, have also increased their stakes in the Royal Bank of Canada, indicating strong interest from institutional investors.
• Royal Bank of Canada reported quarterly earnings of $2.79 per share, exceeding estimates, although its revenue of $12.26 billion fell short of consensus expectations of $16.03 billion.

Magnetar Financial LLC purchased a new stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 95,530 shares of the financial services provider's stock, valued at approximately $10,768,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Canada Pension Plan Investment Board boosted its position in shares of Royal Bank Of Canada by 104.6% during the first 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 buying an additional 3,244,266 shares during the last quarter. State of Wyoming lifted its stake in Royal Bank Of Canada by 31.4% during the 1st quarter. State of Wyoming now owns 4,207 shares of the financial services provider's stock valued at $474,000 after acquiring an additional 1,006 shares during the period. Trexquant Investment LP bought a new stake in shares of Royal Bank Of Canada in the first quarter worth approximately $12,455,000. OMERS ADMINISTRATION Corp raised its holdings in shares of Royal Bank Of Canada by 1.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 1,120,025 shares of the financial services provider's stock valued at $126,146,000 after purchasing an additional 11,299 shares during the last quarter. Finally, FORA Capital LLC bought a new position in Royal Bank Of Canada during the first quarter valued at approximately $2,126,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Stock Performance

Shares of NYSE RY traded down $0.43 during trading on Monday, hitting $145.42. The company had a trading volume of 858,667 shares, compared to its average volume of 1,136,119. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $147.64. The firm has a market capitalization of $204.35 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.49 and a beta of 0.88. The stock has a 50 day simple moving average of $133.28 and a 200 day simple moving average of $124.19. 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 (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $16.03 billion. During the same period in the prior year, the company posted $3.26 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RY shares. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. National Bankshares reissued a "sector perform" rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research report on Thursday. Finally, Argus raised their target price on Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a "buy" rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $177.50.

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.