Royal Bank Of Canada $RY is Rempart Asset Management Inc.'s 4th Largest Position

Key Points

• Rempart Asset Management Inc. reduced its stake in Royal Bank of Canada by 1.2%, with the bank now comprising approximately 5.4% of its portfolio, making it their 4th largest position.
• In recent trading, Royal Bank of Canada shares opened at $146.05 with a 52-week high of $149.26 and a low of $106.10.
• The company's quarterly earnings surpassed expectations, reporting $2.79 earnings per share, beating the consensus estimate of $2.36, though revenue fell short of projections at $12.26 billion.

Rempart Asset Management Inc. reduced its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 211,476 shares of the financial services provider's stock after selling 2,647 shares during the period. Royal Bank Of Canada makes up approximately 5.4% of Rempart Asset Management Inc.'s portfolio, making the stock its 4th biggest position. Rempart Asset Management Inc.'s holdings in Royal Bank Of Canada were worth $27,862,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of RY. Goldman Sachs Group Inc. lifted its holdings in shares of Royal Bank Of Canada by 129.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider's stock worth $796,227,000 after acquiring an additional 3,990,839 shares during the last quarter. Vanguard Group Inc. increased its holdings in Royal Bank Of Canada by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock valued at $7,048,307,000 after purchasing an additional 3,387,971 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Royal Bank Of Canada by 104.6% in 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 purchasing an additional 3,244,266 shares during the period. Bank of Nova Scotia lifted its stake in Royal Bank Of Canada by 8.0% during the first quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock worth $1,892,975,000 after purchasing an additional 1,249,589 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Royal Bank Of Canada during the first quarter worth $114,327,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Trading Down 0.1%

Shares of NYSE:RY opened at $146.05 on Monday. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $149.26. The company's 50 day moving average is $139.11 and its two-hundred day moving average is $128.31. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a market cap of $205.25 billion, a PE ratio of 15.42, a P/E/G ratio of 1.48 and a beta of 0.88.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.43. The business 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%. The company'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. Equities analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. National Bankshares reissued a "sector perform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Wall Street Zen upgraded shares of Royal Bank Of Canada from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Cibc World Mkts downgraded shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price 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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