Royal Bank Of Canada $RY Stake Boosted by Metis Global Partners LLC

Metis Global Partners LLC lifted its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 8.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,474 shares of the financial services provider’s stock after acquiring an additional 5,331 shares during the quarter. Metis Global Partners LLC’s holdings in Royal Bank Of Canada were worth $8,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. grew its stake in Royal Bank Of Canada by 129.9% in 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Royal Bank Of Canada by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider’s stock valued at $7,048,307,000 after buying an additional 3,387,971 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Royal Bank Of Canada by 104.6% during the 1st 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 buying an additional 3,244,266 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of Royal Bank Of Canada by 8.0% in the 1st 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 buying an additional 1,249,589 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Royal Bank Of Canada in the first quarter worth approximately $114,327,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Erste Group Bank upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Monday, September 22nd. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Cowen reaffirmed a “hold” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Finally, CIBC lowered Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research note on Friday, September 5th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada presently has an average rating of “Hold” and a consensus target price of $177.50.

Royal Bank Of Canada Trading Down 0.1%

Shares of Royal Bank Of Canada stock opened at $145.33 on Friday. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $149.44. The firm has a market capitalization of $203.99 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The company’s fifty day moving average price is $146.14 and its two-hundred day moving average price is $135.05.

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 for the quarter, beating the consensus estimate of $2.36 by $0.43. The business had revenue of $12.26 billion for the quarter, compared to analyst estimates of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.26 EPS. On average, analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

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.