Edmp Inc. Lowers Holdings in Royal Bank Of Canada $RY

Edmp Inc. lowered its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 8.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,108 shares of the financial services provider’s stock after selling 993 shares during the period. Edmp Inc.’s holdings in Royal Bank Of Canada were worth $1,330,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sunbelt Securities Inc. raised its position 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 valued at $29,000 after buying an additional 250 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada during the 1st quarter valued at $32,000. Roxbury Financial LLC raised its position 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 valued at $45,000 after buying an additional 104 shares in the last quarter. Cullen Frost Bankers Inc. raised its position 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 valued at $39,000 after buying an additional 257 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in shares of Royal Bank Of Canada during the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Argus raised their price objective on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Wall Street Zen lowered shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a report on Saturday. CIBC lowered shares of Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a report on Friday, September 5th. Cowen reaffirmed a “hold” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Finally, Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $177.50.

Royal Bank Of Canada Price Performance

Shares of Royal Bank Of Canada stock opened at $144.53 on Tuesday. The firm has a market cap of $203.11 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 1.45 and a beta of 0.86. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $149.26. 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 company’s fifty day simple moving average is $142.42 and its two-hundred day simple moving average is $130.78.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.26 EPS. As a group, equities 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.