Park Avenue Securities LLC Takes $1.96 Million Position in Royal Bank Of Canada $RY

Key Points

• Park Avenue Securities LLC has acquired a new position in Royal Bank of Canada, purchasing 14,902 shares valued at approximately $1.96 million.
• Royal Bank of Canada reported $2.79 EPS for the quarter, exceeding analysts' estimates of $2.36, with a net margin of 14.03% and revenue of $12.26 billion.
• The stock currently has a consensus rating of "Hold", with five analysts recommending a Buy rating and an average price target of $177.50.

Park Avenue Securities LLC bought a new position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,902 shares of the financial services provider's stock, valued at approximately $1,960,000.

Other hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in shares of Royal Bank Of Canada in the 4th quarter valued at $25,000. Sunbelt Securities Inc. boosted its stake in Royal Bank Of Canada by 2,272.7% in the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 250 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Royal Bank Of Canada during the first quarter worth about $32,000. Cullen Frost Bankers Inc. increased its position in shares of Royal Bank Of Canada by 295.4% during the first quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock worth $39,000 after purchasing an additional 257 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Royal Bank Of Canada by 93.7% in the 1st quarter. AdvisorNet Financial Inc now owns 368 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 178 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Trading Down 0.5%

NYSE RY opened at $147.28 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $149.26. The stock has a market capitalization of $206.98 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.52 and a beta of 0.88. The firm has a 50-day moving average price of $138.58 and a 200 day moving average price of $127.58.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released 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. 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 for the quarter, compared to the consensus estimate of $16.03 billion. During the same quarter in the previous year, the firm earned $3.26 earnings per share. The firm's revenue was up 16.1% on a year-over-year basis. Equities research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Analyst Ratings Changes

RY has been the topic of a number of research reports. BMO Capital Markets restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Cowen reaffirmed a "hold" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Finally, CIBC cut shares of Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a report on Friday, September 5th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $177.50.

About Royal Bank Of Canada

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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