Simplicity Wealth LLC Purchases New Position in Royal Bank Of Canada $RY

Simplicity Wealth LLC purchased a new stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,660 shares of the financial services provider's stock, valued at approximately $745,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in Royal Bank Of Canada by 129.9% during the first quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider's stock worth $796,227,000 after acquiring an additional 3,990,839 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 acquiring an additional 3,387,971 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake 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 acquiring an additional 3,244,266 shares in the last quarter. Bank of Nova Scotia boosted its stake in Royal Bank Of Canada by 8.0% during 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 in the last quarter. Finally, Nuveen LLC bought a new stake in Royal Bank Of Canada during the first quarter worth about $114,327,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on RY shares. Erste Group Bank raised shares of Royal Bank Of Canada from a "hold" rating to a "buy" rating in a research note on Monday, September 22nd. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. CIBC downgraded shares of Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday, September 5th. Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $177.50.

Royal Bank Of Canada Stock Down 0.7%

Shares of Royal Bank Of Canada stock opened at $145.93 on Wednesday. The company has a market cap of $205.08 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.49 and a beta of 0.86. The company's 50 day moving average is $141.18 and its 200 day moving average is $129.85. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $149.26. 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 (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.43. The company 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 for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.26 earnings per share. Research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

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.

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