UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Sells 225,245 Shares of Royal Bank Of Canada $RY

Key Points

• UBS AM has reduced its stake in Royal Bank of Canada by 13.1%, selling 225,245 shares and leaving it with approximately 1.49 million shares valued at $168.1 million.
• Despite UBS's sale, Vanguard Group increased its position by 5.7%, now holding over 62.5 million shares valued at over $7 billion.
• Analysts have set a consensus rating of "Hold" for Royal Bank of Canada, with an average price target of $177.50, following mixed ratings from various institutions.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC reduced its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 13.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,491,526 shares of the financial services provider's stock after selling 225,245 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.11% of Royal Bank Of Canada worth $168,125,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings 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 purchasing an additional 3,990,839 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Royal Bank Of Canada by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock worth $7,048,307,000 after buying an additional 3,387,971 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Royal Bank Of Canada by 104.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 6,346,768 shares of the financial services provider's stock valued at $715,043,000 after acquiring an additional 3,244,266 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Royal Bank Of Canada by 8.0% in the 1st quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock valued at $1,892,975,000 after acquiring an additional 1,249,589 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Royal Bank Of Canada in the first quarter valued at about $114,327,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RY. Argus increased their price target on Royal Bank Of Canada from $140.00 to $162.00 and gave the company a "buy" rating in a research report on Friday, August 29th. CIBC cut Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday, September 5th. Wall Street Zen raised shares of Royal Bank Of Canada from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Finally, Cowen reiterated a "hold" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $177.50.

Royal Bank Of Canada Stock Performance

RY traded down $0.92 during trading hours on Friday, reaching $144.21. The company's stock had a trading volume of 585,405 shares, compared to its average volume of 888,248. The company's 50-day moving average is $136.19 and its 200-day moving average is $125.92. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $147.64. The firm has a market cap of $202.65 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.48 and a beta of 0.88. 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 released its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.43. The firm had revenue of $12.26 billion during 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 for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.26 earnings per share. On average, equities analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current year.

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.