Axis Wealth Partners LLC Invests $211,000 in Royal Bank Of Canada $RY

Axis Wealth Partners LLC bought a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,603 shares of the financial services provider’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Trust Co of the South increased its position in shares of Royal Bank Of Canada by 0.3% during the 2nd quarter. Trust Co of the South now owns 25,121 shares of the financial services provider’s stock worth $3,305,000 after purchasing an additional 78 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in Royal Bank Of Canada by 13.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 84 shares during the last quarter. Contravisory Investment Management Inc. increased its holdings in Royal Bank Of Canada by 4.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 2,041 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 85 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in Royal Bank Of Canada by 2.8% in the 1st quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider’s stock valued at $378,000 after purchasing an additional 91 shares during the last quarter. Finally, Csenge Advisory Group increased its holdings in Royal Bank Of Canada by 4.3% in the 1st quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 91 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $148.07 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average price of $138.28 and a 200 day moving average price of $127.45. The company has a market cap of $208.09 billion, a P/E ratio of 15.64, a PEG ratio of 1.52 and a beta of 0.88. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $149.26.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.43. The firm had revenue of $12.26 billion during the quarter, compared to the consensus estimate of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.26 earnings per share. Sell-side analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RY. National Bankshares reaffirmed a “sector perform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Cowen restated a “hold” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Royal Bank Of Canada currently has an average rating of “Hold” and an average price target of $177.50.

About Royal Bank Of Canada

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.