Royal Bank Of Canada $RY is TD Asset Management Inc's 3rd Largest Position

Key Points

• TD Asset Management Inc has increased its holdings in Royal Bank of Canada to 31,812,382 shares, making it the firm's third largest position, accounting for 3.6% of its investment portfolio.
• Several institutional investors, including Vanguard Group Inc. and Bank of Nova Scotia, have raised their stakes in Royal Bank of Canada, highlighting a trend of increasing institutional interest in the stock.
• Despite recent downgrades by some analysts, Royal Bank of Canada received a buy rating from Argus with a target price increase to $162.00, reflecting a generally optimistic outlook among analysts.

TD Asset Management Inc raised its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,812,382 shares of the financial services provider's stock after purchasing an additional 296,978 shares during the quarter. Royal Bank Of Canada accounts for 3.6% of TD Asset Management Inc's investment portfolio, making the stock its 3rd largest position. TD Asset Management Inc owned approximately 2.26% of Royal Bank Of Canada worth $4,184,220,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Royal Bank Of Canada by 5.7% in the first quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock valued at $7,048,307,000 after buying an additional 3,387,971 shares during the period. Bank of Nova Scotia boosted its position 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 during the period. Federation des caisses Desjardins du Quebec increased its stake in shares of Royal Bank Of Canada by 3.4% in the first quarter. Federation des caisses Desjardins du Quebec now owns 12,656,362 shares of the financial services provider's stock worth $1,423,464,000 after purchasing an additional 420,466 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Royal Bank Of Canada by 2.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,431,721 shares of the financial services provider's stock valued at $1,287,927,000 after buying an additional 319,270 shares in the last quarter. Finally, Scotia Capital Inc. boosted its holdings in Royal Bank Of Canada by 0.4% in the 1st quarter. Scotia Capital Inc. now owns 8,924,206 shares of the financial services provider's stock worth $1,003,385,000 after buying an additional 33,183 shares during the period. Institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RY shares. CIBC downgraded Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday, September 5th. Argus boosted 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, August 29th. Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Wall Street Zen cut shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research note 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. According to MarketBeat.com, Royal Bank Of Canada has an average rating of "Moderate Buy" and an average price target of $177.50.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $144.53 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The firm's fifty day simple moving average is $142.42 and its 200 day simple moving average is $130.78. The stock has a market cap of $203.11 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 1.45 and a beta of 0.86. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $149.26.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping 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 firm had revenue of $12.26 billion during the quarter, compared to analysts' expectations of $16.03 billion. During the same period last year, the company posted $3.26 EPS. The company's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, research analysts predict that Royal Bank Of Canada will post 9.16 EPS 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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