Royal Bank Of Canada $RY Stake Lessened by Ilmarinen Mutual Pension Insurance Co

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its stake in the Royal Bank Of Canada by 56.7% in Q1, holding 51,249 shares valued at approximately $5.78 million after selling 67,000 shares.
• Goldman Sachs increased its holdings by 129.9% to over 7 million shares, while Canada Pension Plan Investment Board also boosted its stake by 104.6% in the same quarter.
• Royal Bank Of Canada reported $2.79 EPS for the last quarter, exceeding estimates, with a revenue of $12.26 billion, reflecting a 16.1% year-over-year growth.

Ilmarinen Mutual Pension Insurance Co lowered its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 56.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,249 shares of the financial services provider's stock after selling 67,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Royal Bank Of Canada were worth $5,784,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RY. Goldman Sachs Group Inc. lifted its holdings in shares of Royal Bank Of Canada by 129.9% in the first quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider's stock valued at $796,227,000 after purchasing an additional 3,990,839 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Royal Bank Of Canada by 5.7% in the first quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock worth $7,048,307,000 after acquiring an additional 3,387,971 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Royal Bank Of Canada by 104.6% in the first quarter. Canada Pension Plan Investment Board now owns 6,346,768 shares of the financial services provider's stock worth $715,043,000 after acquiring an additional 3,244,266 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of Royal Bank Of Canada by 8.0% in the first quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock worth $1,892,975,000 after acquiring an additional 1,249,589 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Royal Bank Of Canada in the first quarter worth $114,327,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RY. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. National Bank Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. BMO Capital Markets reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Finally, Argus increased their target price on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $177.50.

Royal Bank Of Canada Stock Performance

RY opened at $144.02 on Wednesday. The firm has a market capitalization of $202.39 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 1.48 and a beta of 0.88. The stock's 50 day moving average price is $135.42 and its two-hundred day moving average price is $125.39. The company has a quick ratio of 0.82, a current 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.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its 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. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The firm had revenue of $12.26 billion for the quarter, compared to analyst estimates of $16.03 billion. During the same quarter last year, the firm posted $3.26 EPS. The company's revenue was up 16.1% on a year-over-year basis. On average, equities analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current 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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