Ewing Morris & Co. Investment Partners Ltd. cut its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,538 shares of the financial services provider's stock after selling 2,362 shares during the period. Royal Bank Of Canada makes up approximately 1.3% of Ewing Morris & Co. Investment Partners Ltd.'s investment portfolio, making the stock its 24th largest holding. Ewing Morris & Co. Investment Partners Ltd.'s holdings in Royal Bank Of Canada were worth $3,330,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Park Square Financial Group LLC bought a new stake in Royal Bank Of Canada during the fourth quarter worth about $25,000. Sunbelt Securities Inc. increased its stake in Royal Bank Of Canada by 2,272.7% during the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock worth $29,000 after acquiring an additional 250 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Royal Bank Of Canada during the first quarter worth about $32,000. Cullen Frost Bankers Inc. boosted its position 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 worth $39,000 after acquiring an additional 257 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Royal Bank Of Canada by 93.7% in the 1st quarter. AdvisorNet Financial Inc now owns 368 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 178 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.
Royal Bank Of Canada Price Performance
Shares of RY stock traded up $0.77 during trading hours on Wednesday, reaching $145.52. The stock had a trading volume of 653,583 shares, compared to its average volume of 1,116,798. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $147.64. The firm has a market capitalization of $204.49 billion, a PE ratio of 15.37, a PEG ratio of 1.49 and a beta of 0.88. The stock's fifty day simple moving average is $133.97 and its 200 day simple moving average is $124.51.
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 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 company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the company posted $3.26 EPS. On average, equities research analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Wall Street Zen raised shares of Royal Bank Of Canada from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $177.50.
Check Out Our Latest Analysis on RY
About Royal Bank Of Canada
(
Free Report)
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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