QRG Capital Management Inc. Makes New Investment in Royal Bank Of Canada $RY

QRG Capital Management Inc. acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, Holdings Channel reports. The fund acquired 3,995 shares of the financial services provider’s stock, valued at approximately $526,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. boosted its holdings in shares of Royal Bank Of Canada by 2,272.7% during the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada during the 1st quarter worth approximately $32,000. Roxbury Financial LLC boosted its holdings in shares of Royal Bank Of Canada by 44.3% during the 2nd quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 104 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Royal Bank Of Canada by 295.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 257 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Royal Bank Of Canada during the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RY has been the topic of several recent research reports. National Bankshares restated a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Wednesday. Cowen reiterated a “hold” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Finally, Wall Street Zen cut Royal Bank Of Canada from a “hold” rating to a “sell” rating in a report on Saturday. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada Stock Down 1.1%

NYSE:RY opened at $143.61 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $142.13 and its two-hundred day moving average is $130.34. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $149.26. The stock has a market capitalization of $201.82 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly 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. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The company had revenue of $12.26 billion for the quarter, compared to analysts’ expectations of $16.03 billion. During the same period in the prior year, the firm earned $3.26 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year. Research analysts anticipate 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.