Twin Tree Management LP Acquires 83,235 Shares of Royal Bank Of Canada $RY

Key Points

• Twin Tree Management LP increased its holdings in the Royal Bank of Canada by 242.9%, owning 117,502 shares worth $13.25 million after purchasing an additional 83,235 shares in Q1.
• Royal Bank of Canada reported an EPS of $2.79 for the last quarter, beating estimates by $0.43, even though its revenue was lower than expected at $12.26 billion.
• Research analysts have given Royal Bank of Canada a consensus rating of "Moderate Buy" with a price target increase to $177.50, indicating a positive outlook for the stock.

Twin Tree Management LP lifted its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 242.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 117,502 shares of the financial services provider's stock after purchasing an additional 83,235 shares during the period. Twin Tree Management LP's holdings in Royal Bank Of Canada were worth $13,245,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. increased its stake in Royal Bank Of Canada by 13.0% in the first quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 84 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Royal Bank Of Canada by 3.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock valued at $345,000 after purchasing an additional 90 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Royal Bank Of Canada by 2.8% in the first quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider's stock valued at $378,000 after purchasing an additional 91 shares in the last quarter. Csenge Advisory Group increased its stake in Royal Bank Of Canada by 4.3% in the first quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider's stock valued at $255,000 after purchasing an additional 91 shares in the last quarter. Finally, Great Lakes Retirement Inc. increased its stake in Royal Bank Of Canada by 0.8% in the first quarter. Great Lakes Retirement Inc. now owns 11,362 shares of the financial services provider's stock valued at $1,281,000 after purchasing an additional 92 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank Of Canada Stock Performance

RY traded up $0.77 during midday trading on Wednesday, reaching $145.52. The company had a trading volume of 653,583 shares, compared to its average volume of 1,116,798. 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 stock has a market cap of $204.49 billion, a PE ratio of 14.85, a P/E/G ratio of 1.49 and a beta of 0.88. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $147.64. The business has a 50-day moving average price of $133.97 and a two-hundred day moving average price of $124.51.

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 earnings per share (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 company had revenue of $12.26 billion for the quarter, compared to analyst estimates of $16.03 billion. During the same quarter in the previous year, the firm posted $3.26 earnings per share. The company's quarterly revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts expect 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. Wall Street Zen raised shares of Royal Bank Of Canada from a "sell" rating to a "hold" rating in a research note on Saturday. National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Argus lifted their price objective on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the company a "buy" rating in a report on Friday, August 29th. Finally, CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.