Sheets Smith Wealth Management Sells 225 Shares of Royal Bank Of Canada $RY

Sheets Smith Wealth Management lessened its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 7.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,936 shares of the financial services provider’s stock after selling 225 shares during the period. Sheets Smith Wealth Management’s holdings in Royal Bank Of Canada were worth $386,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position 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 valued at $796,227,000 after purchasing an additional 3,990,839 shares during the period. Vanguard Group Inc. lifted its position in Royal Bank Of Canada by 5.7% during the first quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider’s stock valued at $7,048,307,000 after purchasing an additional 3,387,971 shares during the period. Canada Pension Plan Investment Board lifted its position in Royal Bank Of Canada by 104.6% during the first 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 purchasing an additional 3,244,266 shares during the period. Bank of Nova Scotia lifted its position in Royal Bank Of Canada by 8.0% during the first 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 purchasing an additional 1,249,589 shares during the period. Finally, Nuveen LLC bought a new position in Royal Bank Of Canada during the first quarter valued at approximately $114,327,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Down 0.7%

Shares of RY stock opened at $146.20 on Friday. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $149.26. The stock has a market cap of $205.46 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.51 and a beta of 0.88. 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 50 day simple moving average of $138.85 and a two-hundred day simple moving average of $127.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $12.26 billion during the quarter, compared to analysts’ expectations of $16.03 billion. During the same period in the prior year, the company earned $3.26 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. On average, 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 research analyst reports. Cibc World Mkts downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. 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. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. 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. Finally, Argus increased their price objective on shares of 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. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.