Sagespring Wealth Partners LLC Has $759,000 Holdings in Royal Bank Of Canada $RY

Key Points

• Sagespring Wealth Partners LLC increased its holdings in Royal Bank of Canada by 136.7%, owning 5,770 shares valued at $759,000 as of their latest SEC filing.
• Goldman Sachs and Vanguard are among other institutional investors that have significantly raised their positions in Royal Bank of Canada in the first quarter, contributing to a total of 45.31% of the stock being owned by institutional investors.
• Royal Bank of Canada reported earnings of $2.79 EPS, exceeding expectations, with quarterly revenue of $12.26 billion, though below the consensus estimate of $16.03 billion.

Sagespring Wealth Partners LLC lifted its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 136.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,770 shares of the financial services provider's stock after acquiring an additional 3,332 shares during the period. Sagespring Wealth Partners LLC's holdings in Royal Bank Of Canada were worth $759,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Goldman Sachs Group Inc. grew its position in shares of Royal Bank Of Canada by 129.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider's stock worth $796,227,000 after purchasing an additional 3,990,839 shares in the last quarter. Vanguard Group Inc. grew its position in Royal Bank Of Canada by 5.7% during 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 buying an additional 3,387,971 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Royal Bank Of Canada by 104.6% during 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 buying an additional 3,244,266 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Royal Bank Of Canada by 8.0% during the 1st quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock worth $1,892,975,000 after purchasing an additional 1,249,589 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Royal Bank Of Canada during the 1st quarter worth $114,327,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 1.0%

NYSE RY opened at $146.86 on Thursday. 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 twelve month low of $106.10 and a twelve month high of $149.26. The company has a market cap of $206.39 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86. The business's fifty day moving average is $143.01 and its 200 day moving average is $130.99.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $2.36 by $0.43. The business had revenue of $12.26 billion for the quarter, compared to the consensus estimate 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 was up 16.1% compared to the same quarter last year. During the same period last year, the company earned $3.26 EPS. As a group, sell-side analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RY. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Cowen reiterated a "hold" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Cibc World Mkts lowered shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Royal Bank Of Canada in a research report on Wednesday, October 8th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada presently has an average 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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