Royal Bank Of Canada $RY Shares Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Royal Bank of Canada by 84.1%, acquiring an additional 125,044 shares during the first quarter, bringing their total holdings to 273,644 shares worth approximately $30.81 million.
• Royal Bank of Canada reported $2.79 EPS for the quarter, exceeding analysts' expectations of $2.36 EPS, while experiencing revenue of $12.26 billion, which fell short of the forecasted $16.03 billion.
• The company's stock currently holds a consensus rating of "Hold" from analysts, with an average target price of $177.50, amidst a market capitalization of $202.64 billion.

Acadian Asset Management LLC lifted its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 84.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 273,644 shares of the financial services provider's stock after purchasing an additional 125,044 shares during the quarter. Acadian Asset Management LLC's holdings in Royal Bank Of Canada were worth $30,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Geneos Wealth Management Inc. raised its position in shares of Royal Bank Of Canada by 6.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,766 shares of the financial services provider's stock worth $425,000 after purchasing an additional 218 shares during the period. Intech Investment Management LLC raised its position in shares of Royal Bank Of Canada by 22.6% during the 1st quarter. Intech Investment Management LLC now owns 126,753 shares of the financial services provider's stock worth $14,276,000 after purchasing an additional 23,360 shares during the period. Integrity Alliance LLC. acquired a new stake in shares of Royal Bank Of Canada during the 1st quarter worth approximately $545,000. Plato Investment Management Ltd raised its position in shares of Royal Bank Of Canada by 21.3% during the 1st quarter. Plato Investment Management Ltd now owns 30,192 shares of the financial services provider's stock worth $3,438,000 after purchasing an additional 5,305 shares during the period. Finally, SCS Capital Management LLC acquired a new stake in shares of Royal Bank Of Canada during the 1st quarter worth approximately $356,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Performance

Shares of NYSE RY opened at $144.20 on Thursday. The stock has a fifty day moving average price of $135.69 and a two-hundred day moving average price of $125.52. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $202.64 billion, a P/E ratio of 15.23, a PEG ratio of 1.48 and a beta of 0.88. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $147.64.

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 analysts' consensus estimates of $2.36 by $0.43. The firm had revenue of $12.26 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the company posted $3.26 EPS. Research analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RY shares. Cibc World Mkts cut Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 5th. National Bankshares restated a "sector perform" rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Scotiabank restated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Cowen restated a "hold" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Finally, Wall Street Zen upgraded Royal Bank Of Canada from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of "Hold" and an average 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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