Royal Bank Of Canada $RY Shares Sold by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments Inc. reduced its stake in Royal Bank of Canada (NYSE:RY) by 41.1%, lowering its holdings to 4,228 shares, valued at $556,000.
• Analyst ratings for Royal Bank of Canada show mixed sentiments, with four "Buy" ratings and six "Hold" ratings, while the average price target is set at $177.50.
• In its latest earnings report, Royal Bank of Canada reported $2.79 per share, exceeding estimates by $0.43, despite a revenue of $12.26 billion being below analysts' expectations.

Miller Howard Investments Inc. NY reduced its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 41.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,228 shares of the financial services provider's stock after selling 2,945 shares during the period. Miller Howard Investments Inc. NY's holdings in Royal Bank Of Canada were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in RY. Brighton Jones LLC raised its holdings in shares of Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after acquiring an additional 575 shares during the period. BNP Paribas Financial Markets grew its position in Royal Bank Of Canada by 68.3% in the fourth quarter. BNP Paribas Financial Markets now owns 2,148 shares of the financial services provider's stock worth $259,000 after acquiring an additional 872 shares in the last quarter. Two Sigma Advisers LP bought a new stake in Royal Bank Of Canada in the fourth quarter worth approximately $3,398,000. Vident Advisory LLC grew its position in Royal Bank Of Canada by 15.2% in the fourth quarter. Vident Advisory LLC now owns 4,597 shares of the financial services provider's stock worth $554,000 after acquiring an additional 608 shares in the last quarter. Finally, Vise Technologies Inc. grew its position in Royal Bank Of Canada by 43.8% in the fourth quarter. Vise Technologies Inc. now owns 14,142 shares of the financial services provider's stock worth $1,704,000 after acquiring an additional 4,306 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on RY. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. CIBC downgraded shares of Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a report on Friday, September 5th. Finally, National Bank Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Royal Bank Of Canada currently has an average rating of "Hold" and a consensus price target of $177.50.

Royal Bank Of Canada Trading Up 0.8%

Shares of Royal Bank Of Canada stock opened at $147.38 on Friday. The stock has a market capitalization of $207.12 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 1.51 and a beta of 0.88. 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 company has a 50-day simple moving average of $137.59 and a 200 day simple moving average of $126.98. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $147.64.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm'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. Research analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal 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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