Forum Financial Management LP Sells 189 Shares of Royal Bank Of Canada $RY

Forum Financial Management LP lowered its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,300 shares of the financial services provider’s stock after selling 189 shares during the quarter. Forum Financial Management LP’s holdings in Royal Bank Of Canada were worth $829,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. lifted its position in Royal Bank Of Canada by 2,272.7% in the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Royal Bank Of Canada in the first quarter valued at approximately $32,000. Roxbury Financial LLC lifted its position in Royal Bank Of Canada by 44.3% in the second quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 104 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in Royal Bank Of Canada by 295.4% in the first quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 257 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Royal Bank Of Canada in the first quarter valued at approximately $45,000. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on RY shares. Cibc World Mkts downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. CIBC downgraded 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 report on Thursday, August 14th. Finally, Argus upped their target price on Royal Bank Of Canada from $140.00 to $162.00 and gave the company a “buy” rating in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada Price Performance

Shares of Royal Bank Of Canada stock opened at $147.49 on Friday. 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 $207.27 billion, a PE ratio of 15.57, a P/E/G ratio of 1.47 and a beta of 0.86. The business has a 50 day moving average of $144.48 and a 200 day moving average of $132.38. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $149.26.

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. The company had revenue of $12.26 billion during the quarter, compared to the consensus estimate of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.26 earnings per share. As a group, equities research analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

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.