Royal Bank Of Canada $RY Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in the Royal Bank of Canada by 22.6%, selling 79,766 shares during the second quarter, leaving them with a total of 273,059 shares valued at approximately $35.9 million.
• Several institutional investors have also adjusted their positions, with AdvisorNet Financial Inc. increasing its holdings by 59.0% during the same period.
• Royal Bank of Canada reported $2.79 earnings per share for the last quarter, surpassing the consensus estimate of $2.36, while revenue was noted at $12.26 billion.

Public Employees Retirement System of Ohio lowered its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 22.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 273,059 shares of the financial services provider's stock after selling 79,766 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Royal Bank Of Canada were worth $35,918,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Financial Management Professionals Inc. lifted its holdings in Royal Bank Of Canada by 29.2% in the second quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 98 shares during the period. Ballentine Partners LLC lifted its holdings in Royal Bank Of Canada by 8.4% in the second quarter. Ballentine Partners LLC now owns 5,078 shares of the financial services provider's stock valued at $668,000 after acquiring an additional 393 shares during the period. Axis Wealth Partners LLC acquired a new stake in Royal Bank Of Canada in the second quarter valued at $211,000. Cardinal Capital Management lifted its holdings in Royal Bank Of Canada by 1.6% in the second quarter. Cardinal Capital Management now owns 39,326 shares of the financial services provider's stock valued at $5,173,000 after acquiring an additional 617 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in Royal Bank Of Canada by 59.0% in the second quarter. AdvisorNet Financial Inc now owns 585 shares of the financial services provider's stock valued at $77,000 after acquiring an additional 217 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on RY shares. CIBC downgraded Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a report on Friday, September 5th. Argus lifted their price target on Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. National Bank Financial downgraded Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Finally, Erste Group Bank raised Royal Bank Of Canada from a "hold" rating to a "buy" rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $177.50.

Royal Bank Of Canada Trading Down 0.5%

Shares of RY stock opened at $147.28 on Thursday. The firm has a 50-day moving average price of $138.58 and a 200 day moving average price of $127.58. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $149.26. The company has a market capitalization of $206.98 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 1.52 and a beta of 0.88. 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 (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 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 firm had revenue of $12.26 billion during the quarter, compared to the consensus estimate of $16.03 billion. During the same quarter in the previous year, the company posted $3.26 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Research analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

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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