Man Group plc Takes $38.62 Million Position in Royal Bank Of Canada $RY

Man Group plc acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 186,560 shares of the financial services provider’s stock, valued at approximately $38,616,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RY. Harvest Fund Management Co. Ltd acquired a new stake in Royal Bank Of Canada during the fourth quarter valued at approximately $25,000. Key Financial Inc raised its holdings in shares of Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after buying an additional 63 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Royal Bank Of Canada in the 3rd quarter worth approximately $27,000. BOK Financial Private Wealth Inc. bought a new position in shares of Royal Bank Of Canada during the 2nd quarter worth approximately $28,000. Finally, Maseco LLP boosted its stake in Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after buying an additional 142 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 0.2%

Shares of NYSE RY opened at $207.52 on Thursday. Royal Bank Of Canada has a 1 year low of $141.37 and a 1 year high of $218.57. The firm’s 50-day moving average is $208.92 and its 200-day moving average is $187.56. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $287.75 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.56 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted 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. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same period in the previous year, the firm posted $3.12 earnings per share. Royal Bank Of Canada’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts expect that Royal Bank Of Canada will post 11.59 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on RY shares. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Company 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.