Plato Investment Management Ltd Increases Stake in Royal Bank Of Canada $RY

Key Points

• Plato Investment Management Ltd increased its stake in the Royal Bank of Canada by 21.3%, owning 30,192 shares valued at approximately $3.44 million as of the latest reporting period.
• Royal Bank of Canada reported revenues of $12.26 billion for its last quarter, which was an increase of 16.1% year-over-year, surpassing the EPS consensus estimate by 0.43.
• Research analysts have mixed ratings on Royal Bank of Canada's stock, with an average price target of $177.50 and a consensus rating of "Hold".

Plato Investment Management Ltd raised its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 21.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,192 shares of the financial services provider's stock after purchasing an additional 5,305 shares during the quarter. Plato Investment Management Ltd's holdings in Royal Bank Of Canada were worth $3,438,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of RY. Park Square Financial Group LLC purchased a new position in Royal Bank Of Canada during the fourth quarter worth approximately $25,000. Sunbelt Securities Inc. grew its stake in Royal Bank Of Canada by 2,272.7% during the 1st 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 acquired a new stake in shares of Royal Bank Of Canada in the first quarter valued at approximately $32,000. Cullen Frost Bankers Inc. boosted its holdings in Royal Bank Of Canada by 295.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 257 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its stake in Royal Bank Of Canada by 93.7% during the first quarter. AdvisorNet Financial Inc now owns 368 shares of the financial services provider's stock worth $41,000 after acquiring an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Price Performance

Shares of RY stock opened at $144.02 on Wednesday. The firm has a fifty day moving average of $135.42 and a two-hundred day moving average of $125.39. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $147.64. The firm has a market cap of $202.39 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.48 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, beating the consensus estimate 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 business had revenue of $12.26 billion during the quarter, compared to analyst estimates of $16.03 billion. During the same period in the previous year, the business posted $3.26 EPS. The company's quarterly revenue was up 16.1% on a year-over-year basis. As a group, research analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on RY. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Cowen restated a "hold" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Finally, Wall Street Zen raised shares of Royal Bank Of Canada from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target 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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