Royal Bank Of Canada $RY Holdings Cut by William Blair Investment Management LLC

Key Points

• William Blair Investment Management LLC has cut its holdings in Royal Bank Of Canada by 19.2%, now owning approximately $178 million worth of the stock after selling 320,806 shares.
• Analysts have mixed opinions on Royal Bank Of Canada, with an average rating of "Moderate Buy" and a price target of $177.50, while some firms have lowered their ratings.
• The company's latest earnings report revealed an EPS of $2.79, exceeding expectations, but total revenue was below consensus estimates at $12.26 billion.

William Blair Investment Management LLC lowered its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 19.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,353,389 shares of the financial services provider's stock after selling 320,806 shares during the period. William Blair Investment Management LLC owned about 0.10% of Royal Bank Of Canada worth $178,478,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Sunbelt Securities Inc. raised its holdings in shares of Royal Bank Of Canada by 2,272.7% during the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock worth $29,000 after acquiring an additional 250 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Royal Bank Of Canada in the 1st quarter worth about $32,000. Roxbury Financial LLC raised its stake in shares of Royal Bank Of Canada by 44.3% during the 2nd quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider's stock worth $45,000 after purchasing an additional 104 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of Royal Bank Of Canada by 295.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock valued at $39,000 after buying an additional 257 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Royal Bank Of Canada in the 1st quarter valued at approximately $45,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on RY. BMO Capital Markets restated an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Argus increased their price target on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Scotiabank restated an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. CIBC lowered shares of Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday, September 5th. Finally, Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Royal Bank Of Canada presently has an average rating of "Moderate Buy" and an average price target of $177.50.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $145.81 on Friday. The company has a market capitalization of $204.91 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86. 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 has a one year low of $106.10 and a one year high of $149.26. The company's fifty day moving average price is $143.53 and its 200 day moving average price is $131.44.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.43. The company had revenue of $12.26 billion for the quarter, compared to the consensus estimate of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The firm's revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business posted $3.26 earnings per share. As a group, analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

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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