Value Partners Investments Inc. Boosts Stock Holdings in Royal Bank Of Canada $RY

Key Points

• Value Partners Investments Inc. increased its stake in Royal Bank Of Canada by 1.3%, acquiring an additional 4,089 shares, bringing its total holdings to 327,224 shares valued at approximately $43 million.
• Royal Bank Of Canada's earnings report revealed a strong performance with earnings per share of $2.79, surpassing analysts' estimates by $0.43, despite revenue being below expectations.
• The stock has received mixed ratings, with some analysts raising their price targets and others downgrading their ratings, resulting in a consensus rating of "Hold" with an average target price of $177.50.

Value Partners Investments Inc. boosted its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 327,224 shares of the financial services provider's stock after purchasing an additional 4,089 shares during the period. Royal Bank Of Canada makes up approximately 3.4% of Value Partners Investments Inc.'s portfolio, making the stock its 13th biggest holding. Value Partners Investments Inc.'s holdings in Royal Bank Of Canada were worth $43,045,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC raised its stake in Royal Bank Of Canada by 1,187.6% during the first quarter. Campbell & CO Investment Adviser LLC now owns 25,740 shares of the financial services provider's stock worth $2,901,000 after purchasing an additional 23,741 shares during the period. Baskin Financial Services Inc. increased its position in shares of Royal Bank Of Canada by 5.0% in the first quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider's stock worth $7,079,000 after acquiring an additional 3,006 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Royal Bank Of Canada by 1.1% in the first quarter. Envestnet Asset Management Inc. now owns 341,776 shares of the financial services provider's stock worth $38,525,000 after acquiring an additional 3,767 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Royal Bank Of Canada by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 6,458,212 shares of the financial services provider's stock worth $727,970,000 after acquiring an additional 271,531 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Royal Bank Of Canada by 4.0% in the first quarter. PNC Financial Services Group Inc. now owns 86,847 shares of the financial services provider's stock worth $9,789,000 after acquiring an additional 3,358 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Price Performance

RY opened at $144.21 on Friday. The company has a fifty day simple moving average of $136.19 and a 200 day simple moving average of $125.92. The firm has a market cap of $202.65 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.49 and a beta of 0.88. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve 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 released its quarterly earnings results 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 business had revenue of $12.26 billion during the quarter, compared to analyst estimates of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The business's revenue was up 16.1% on a year-over-year basis. During the same period last year, the business earned $3.26 EPS. Equities research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Analysts Set New Price Targets

RY has been the subject of several recent research reports. Wall Street Zen raised shares of Royal Bank Of Canada from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Cibc World Mkts lowered shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 5th. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Argus increased their price objective on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Finally, Cowen reaffirmed a "hold" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of "Hold" 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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