JTC Employer Solutions Trustee Ltd Cuts Position in Royal Bank Of Canada $RY

JTC Employer Solutions Trustee Ltd lessened its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 9.1% during the second quarter, Holdings Channel.com reports. The firm owned 1,550 shares of the financial services provider’s stock after selling 155 shares during the quarter. JTC Employer Solutions Trustee Ltd’s holdings in Royal Bank Of Canada were worth $203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Alta Capital Management LLC purchased a new stake in Royal Bank Of Canada in the second quarter worth about $207,000. Generali Asset Management SPA SGR grew its holdings in Royal Bank Of Canada by 7.0% in the second quarter. Generali Asset Management SPA SGR now owns 65,447 shares of the financial services provider’s stock worth $8,610,000 after purchasing an additional 4,279 shares during the period. Tuttle Capital Management LLC grew its holdings in Royal Bank Of Canada by 15.0% in the second quarter. Tuttle Capital Management LLC now owns 5,152 shares of the financial services provider’s stock worth $678,000 after purchasing an additional 672 shares during the period. Ritholtz Wealth Management grew its holdings in Royal Bank Of Canada by 2.8% in the second quarter. Ritholtz Wealth Management now owns 34,353 shares of the financial services provider’s stock worth $4,519,000 after purchasing an additional 930 shares during the period. Finally, Sagespring Wealth Partners LLC grew its holdings in Royal Bank Of Canada by 136.7% in the second quarter. Sagespring Wealth Partners LLC now owns 5,770 shares of the financial services provider’s stock worth $759,000 after purchasing an additional 3,332 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Up 0.3%

Shares of RY stock opened at $145.81 on Friday. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $149.26. 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 firm’s 50 day moving average is $143.53 and its 200 day moving average is $131.44. The stock has a market capitalization of $204.91 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.46 and a beta of 0.86.

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 (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 analysts’ expectations of $16.03 billion. During the same quarter last year, the company posted $3.26 earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. 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 recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Wednesday, October 8th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. National Bankshares reiterated a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Finally, Argus increased their price target 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. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada 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.