Pure Financial Advisors LLC Takes $611,000 Position in Royal Bank Of Canada $RY

Pure Financial Advisors LLC bought a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,952 shares of the financial services provider’s stock, valued at approximately $611,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. HighTower Advisors LLC lifted its position in shares of Royal Bank Of Canada by 18.5% in the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after purchasing an additional 15,046 shares in the last quarter. Fisher Asset Management LLC grew its position in Royal Bank Of Canada by 6.1% during the fourth quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock valued at $1,086,601,000 after purchasing an additional 368,534 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Royal Bank Of Canada during the second quarter valued at approximately $2,296,717,000. Rathbones Group PLC increased its stake in Royal Bank Of Canada by 9.0% in the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock valued at $55,480,000 after buying an additional 26,782 shares during the period. Finally, Indivisible Partners purchased a new stake in Royal Bank Of Canada in the 4th quarter worth approximately $7,335,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 0.2%

Royal Bank Of Canada stock opened at $207.52 on Thursday. Royal Bank Of Canada has a one year low of $141.37 and a one year high of $218.57. The company’s fifty day moving average price is $208.92 and its two-hundred day moving average price is $187.56. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $287.75 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.56 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.12 earnings per share. On average, analysts forecast that Royal Bank Of Canada will post 11.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RY has been the topic of several research analyst reports. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. Argus set a $225.00 price target on Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.