Triasima Portfolio Management inc. Has $28.48 Million Stake in Royal Bank Of Canada $RY

Key Points

• Triasima Portfolio Management Inc. reduced its stake in the Royal Bank of Canada by 20.7%, now holding approximately $28.48 million worth of shares, which accounts for 5.2% of its portfolio.
• Royal Bank of Canada reported a better-than-expected earnings per share of $2.79, surpassing analysts' estimates of $2.36, while its quarterly revenue was $12.26 billion, below the expected $16.03 billion.
• The stock received a consensus rating of "Moderate Buy" from analysts, with an average target price of $177.50, indicating positive sentiment towards the company's future performance.

Triasima Portfolio Management inc. trimmed its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 20.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,559 shares of the financial services provider's stock after selling 56,638 shares during the period. Royal Bank Of Canada accounts for 5.2% of Triasima Portfolio Management inc.'s holdings, making the stock its largest position. Triasima Portfolio Management inc.'s holdings in Royal Bank Of Canada were worth $28,484,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sunbelt Securities Inc. raised its position in shares of Royal Bank Of Canada by 2,272.7% in 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Royal Bank Of Canada in the first quarter valued at approximately $32,000. Cullen Frost Bankers Inc. raised its position in shares of Royal Bank Of Canada by 295.4% in the first 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. Wayfinding Financial LLC acquired a new stake in shares of Royal Bank Of Canada in the first quarter valued at approximately $45,000. Finally, Roxbury Financial LLC raised its position in shares of Royal Bank Of Canada by 44.3% in the second quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider's stock valued at $45,000 after buying an additional 104 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $145.93 on Wednesday. The firm's fifty day moving average price is $141.18 and its two-hundred day moving average price is $129.85. The stock has a market cap of $205.08 billion, a PE ratio of 15.41, a PEG ratio of 1.49 and a beta of 0.86. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $149.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82.

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 for the quarter, topping analysts' consensus estimates of $2.36 by $0.43. The firm had revenue of $12.26 billion for the quarter, compared to analysts' expectations of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The company's revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.26 earnings per share. On average, equities analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RY shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Royal Bank Of Canada in a research report on Saturday, September 27th. National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Cowen restated a "hold" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. CIBC downgraded shares of Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research report on Friday, September 5th. Finally, Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus 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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