Royal Bank Of Canada $RY Shares Sold by Triangle Securities Wealth Management

Triangle Securities Wealth Management trimmed its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 25.9% in the second quarter, Holdings Channel.com reports. The fund owned 2,800 shares of the financial services provider’s stock after selling 978 shares during the period. Triangle Securities Wealth Management’s holdings in Royal Bank Of Canada were worth $368,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Contravisory Investment Management Inc. increased its stake in shares of Royal Bank Of Canada by 4.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 2,041 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 85 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Royal Bank Of Canada by 4.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the financial services provider’s stock valued at $4,638,000 after buying an additional 1,549 shares during the period. Mn Services Vermogensbeheer B.V. grew its stake in shares of Royal Bank Of Canada by 3.0% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 274,900 shares of the financial services provider’s stock valued at $36,156,000 after buying an additional 8,100 shares during the period. KMG Fiduciary Partners LLC grew its stake in shares of Royal Bank Of Canada by 3.4% during the 2nd quarter. KMG Fiduciary Partners LLC now owns 20,123 shares of the financial services provider’s stock valued at $2,647,000 after buying an additional 656 shares during the period. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Royal Bank Of Canada by 57.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after acquiring an additional 1,934 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RY has been the topic of several recent research reports. Argus lifted their target price on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the company a “buy” rating in a report on Friday, August 29th. Cibc World Mkts lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 5th. National Bankshares reaffirmed a “sector perform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Cowen reaffirmed a “hold” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Finally, Wall Street Zen upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Hold” and an average target price of $177.50.

Royal Bank Of Canada Stock Up 0.8%

RY stock opened at $147.38 on Friday. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $147.64. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a market cap of $207.12 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.50 and a beta of 0.88. The company has a 50 day moving average of $137.59 and a two-hundred day moving average of $126.90.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $2.36 by $0.43. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The company had revenue of $12.26 billion for the quarter, compared to analyst estimates of $16.03 billion. During the same quarter in the prior year, the business posted $3.26 EPS. Royal Bank Of Canada’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal 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.