Royal Bank Of Canada $RY Stake Increased by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Royal Bank of Canada by 3.4% during the first quarter, making it the fund's largest holding with approximately $1.42 billion worth of shares.
• Royal Bank of Canada reported earnings of $2.79 per share for the most recent quarter, surpassing analysts' expectations of $2.36.
• Analysts have a consensus rating of "Moderate Buy" for Royal Bank of Canada, with an average target price of $177.50.

Federation des caisses Desjardins du Quebec boosted its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 3.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 12,656,362 shares of the financial services provider's stock after purchasing an additional 420,466 shares during the quarter. Royal Bank Of Canada comprises about 7.0% of Federation des caisses Desjardins du Quebec's holdings, making the stock its biggest holding. Federation des caisses Desjardins du Quebec owned 0.90% of Royal Bank Of Canada worth $1,423,464,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new stake in Royal Bank Of Canada during the 4th quarter valued at about $25,000. Sunbelt Securities Inc. grew its position 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 valued at $29,000 after purchasing an additional 250 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Royal Bank Of Canada during the 1st quarter valued at about $32,000. Cullen Frost Bankers Inc. grew its position in 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 valued at $39,000 after purchasing an additional 257 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in Royal Bank Of Canada by 93.7% during the 1st quarter. AdvisorNet Financial Inc now owns 368 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 178 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $145.42 on Tuesday. The firm's 50 day moving average price is $133.64 and its 200-day moving average price is $124.37. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $147.64. 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 stock has a market capitalization of $204.35 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.49 and a beta of 0.88.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $16.03 billion. During the same quarter in the prior year, the business earned $3.26 EPS. The business's quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. BMO Capital Markets restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday. National Bank Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Wall Street Zen upgraded shares of Royal Bank Of Canada from a "sell" rating to a "hold" rating in a research note on Saturday. Argus upped their target price on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the company a "buy" rating in a research note on Friday. Finally, Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada has a consensus rating of "Moderate Buy" and an average target price of $177.50.

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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