Sanctuary Advisors LLC purchased a new position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 16,109 shares of the financial services provider's stock, valued at approximately $3,334,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Royal Bank Of Canada during the second quarter valued at $2,260,820,000. Te Ahumairangi Investment Management Ltd acquired a new position in Royal Bank Of Canada in the 2nd quarter worth about $5,409,000. Twin Tree Management LP purchased a new stake in shares of Royal Bank Of Canada during the 2nd quarter worth about $6,590,000. Bank of Nova Scotia acquired a new stake in shares of Royal Bank Of Canada during the 2nd quarter valued at about $2,549,157,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Royal Bank Of Canada during the 2nd quarter valued at about $987,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.
Royal Bank Of Canada Stock Up 1.6%
RY opened at $207.24 on Wednesday. The business has a 50 day moving average price of $208.79 and a 200 day moving average price of $187.29. Royal Bank Of Canada has a twelve month low of $136.10 and a twelve month high of $218.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $287.36 billion, a P/E ratio of 18.62, a price-to-earnings-growth ratio of 1.53 and a beta of 0.80.
Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The firm had revenue of $12.84 billion during the quarter, compared to analysts' expectations of $12.74 billion. During the same quarter in the prior year, the business earned $3.12 earnings per share. The company's revenue was up 11.4% on a year-over-year basis. Research analysts forecast that Royal Bank Of Canada will post 11.59 EPS for the current year.
Analyst Upgrades and Downgrades
RY has been the topic of a number of research reports. Keefe, Bruyette & Woods initiated coverage on Royal Bank Of Canada in a report on Friday, August 21st. They issued a "market perform" rating on the stock. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research report on Friday. Scotiabank restated an "outperform" rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Weiss Ratings raised shares of Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, July 29th. Finally, Raymond James Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $225.00.
View Our Latest Report on Royal Bank Of Canada
About Royal Bank Of Canada
(
Free Report)
Royal Bank of Canada NYSE: RY is a diversified financial services company and one of Canada's largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.
RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.
Further Reading
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