Brady Family Wealth LLC Reduces Stock Holdings in Royal Bank Of Canada $RY

Brady Family Wealth LLC lowered its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.3% during the second quarter, HoldingsChannel reports. The firm owned 6,497 shares of the financial services provider’s stock after selling 150 shares during the period. Brady Family Wealth LLC’s holdings in Royal Bank Of Canada were worth $855,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RY. Goldman Sachs Group Inc. raised its stake in shares of 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 valued at $796,227,000 after purchasing an additional 3,990,839 shares during the period. Vanguard Group Inc. increased its stake in 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 period. Canada Pension Plan Investment Board increased its stake in Royal Bank Of Canada by 104.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 6,346,768 shares of the financial services provider’s stock worth $715,043,000 after buying an additional 3,244,266 shares during the period. Bank of Nova Scotia increased its stake in 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 buying an additional 1,249,589 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of 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.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $146.19 on Friday. 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. The company has a market capitalization of $205.45 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.50 and a beta of 0.88. The business has a 50 day simple moving average of $137.28 and a 200-day simple moving average of $126.66.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued 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 company 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 firm’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.26 earnings per share. As a group, equities research analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Wall Street Analyst Weigh In

RY has been the topic of a number of analyst reports. National Bank Financial lowered Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 30th. Argus lifted their price objective on Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Wall Street Zen upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada currently has an average rating of “Hold” and a consensus target price of $177.50.

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.