Sequoia Financial Advisors LLC Boosts Position in Royal Bank Of Canada $RY

Key Points

• Sequoia Financial Advisors LLC increased its stake in Royal Bank of Canada by 19.1%, owning 18,823 shares worth approximately $2.48 million at the end of the second quarter.
• Several institutional investors, including Vanguard Group and TD Asset Management, also expanded their holdings in Royal Bank of Canada, highlighting continued investor interest in the bank.
• Royal Bank of Canada recently reported earnings of $2.79 per share, surpassing forecasts and reflecting a 16.1% increase in revenue compared to the same quarter last year.

Sequoia Financial Advisors LLC boosted its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 19.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,823 shares of the financial services provider's stock after purchasing an additional 3,015 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Royal Bank Of Canada were worth $2,476,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 purchasing an additional 3,387,971 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Royal Bank Of Canada by 0.9% during the 1st quarter. TD Asset Management Inc now owns 31,515,404 shares of the financial services provider's stock worth $3,549,520,000 after purchasing an additional 277,466 shares in the last quarter. Bank of Nova Scotia increased its stake 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. Federation des caisses Desjardins du Quebec increased its stake in shares of Royal Bank Of Canada by 3.4% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 12,656,362 shares of the financial services provider's stock worth $1,423,464,000 after purchasing an additional 420,466 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Royal Bank Of Canada by 2.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,431,721 shares of the financial services provider's stock worth $1,287,927,000 after purchasing an additional 319,270 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Weiss Ratings restated a "buy (b)" rating on shares of Royal Bank Of Canada in a research report on Wednesday, October 8th. Cowen restated a "hold" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Erste Group Bank upgraded Royal Bank Of Canada from a "hold" rating to a "buy" rating in a research report on Monday, September 22nd. Wall Street Zen downgraded Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, October 11th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $177.50.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $146.86 on Thursday. The business's 50-day moving average price is $143.01 and its 200 day moving average price is $130.99. 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 capitalization of $206.39 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86. 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 released its earnings results 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 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 the consensus estimate of $16.03 billion. During the same period in the prior year, the business posted $3.26 earnings per share. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, research analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada 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.

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