3,155 Shares in Royal Bank Of Canada $RY Bought by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC has made a new investment in the Royal Bank of Canada, acquiring 3,155 shares valued at approximately $356,000.
• Several institutional investors have recently increased their stakes in Royal Bank of Canada, with the highest increase being 68.3% by BNP Paribas Financial Markets during the fourth quarter.
• Royal Bank of Canada reported earnings of $2.79 per share for the last quarter, surpassing analysts' expectations and indicating a 16.1% increase in revenue year-over-year.

SCS Capital Management LLC purchased a new stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the first quarter, according to its most recent filing with the SEC. The firm purchased 3,155 shares of the financial services provider's stock, valued at approximately $356,000.

Several other large investors have also recently made changes to their positions in RY. Park Square Financial Group LLC bought a new stake in Royal Bank Of Canada during the fourth quarter valued at about $25,000. Sunbelt Securities Inc. lifted its position in shares of Royal Bank Of Canada by 2,272.7% during the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock valued at $29,000 after buying an additional 250 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada during the first quarter valued at about $32,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Royal Bank Of Canada by 295.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock valued at $39,000 after buying an additional 257 shares in the last quarter. Finally, AdvisorNet Financial Inc grew its position in shares of Royal Bank Of Canada by 93.7% in the 1st quarter. AdvisorNet Financial Inc now owns 368 shares of the financial services provider's stock worth $41,000 after buying an additional 178 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Stock Performance

RY traded down $0.92 on Friday, reaching $144.21. The stock had a trading volume of 585,405 shares, compared to its average volume of 888,248. The business's 50-day moving average price is $136.19 and its two-hundred day moving average price is $125.92. The company has a market cap of $202.65 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.48 and a beta of 0.88. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $147.64. 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 posted its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) 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 business had revenue of $12.26 billion for the quarter, compared to analyst estimates of $16.03 billion. During the same period in the prior year, the company posted $3.26 EPS. The company's revenue for the quarter was up 16.1% on a year-over-year basis. Sell-side analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on RY. CIBC cut shares of Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research report on Friday, September 5th. Wall Street Zen raised shares of Royal Bank Of Canada from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $177.50.

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.