Carret Asset Management LLC Makes New $218,000 Investment in Royal Bank Of Canada $RY

Carret Asset Management LLC purchased a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,655 shares of the financial services provider’s stock, valued at approximately $218,000.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after buying an additional 575 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Royal Bank Of Canada by 4.1% during the first quarter. Vontobel Holding Ltd. now owns 91,555 shares of the financial services provider’s stock valued at $10,315,000 after buying an additional 3,591 shares during the period. Private Trust Co. NA lifted its stake in shares of Royal Bank Of Canada by 178.8% during the first quarter. Private Trust Co. NA now owns 948 shares of the financial services provider’s stock valued at $107,000 after buying an additional 608 shares during the period. Baskin Financial Services Inc. lifted its stake in shares of Royal Bank Of Canada by 5.0% during the first quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider’s stock valued at $7,079,000 after buying an additional 3,006 shares during the period. Finally, Capital Investment Counsel Inc lifted its stake in shares of Royal Bank Of Canada by 24.4% during the first quarter. Capital Investment Counsel Inc now owns 10,146 shares of the financial services provider’s stock valued at $1,144,000 after buying an additional 1,989 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $145.82 on Friday. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $149.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The company has a 50 day moving average price of $145.59 and a 200 day moving average price of $133.79. The firm has a market capitalization of $204.67 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued 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 firm had revenue of $12.26 billion during the quarter, compared to analyst estimates of $16.03 billion. During the same quarter in the prior year, the business posted $3.26 earnings per share. Royal Bank Of Canada’s revenue for the quarter was up 16.1% compared to the same quarter last year. Sell-side analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on RY shares. Wall Street Zen downgraded shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. BMO Capital Markets reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Erste Group Bank raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Monday, September 22nd. Argus upped their price target on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.