Royal Bank Of Canada $RY Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,576,322 shares of the financial services provider’s stock after selling 54,344 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Royal Bank Of Canada were worth $338,915,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trust Co of the South raised its stake in Royal Bank Of Canada by 0.3% during the second quarter. Trust Co of the South now owns 25,121 shares of the financial services provider’s stock worth $3,305,000 after acquiring an additional 78 shares during the period. Brucke Financial Inc. grew its holdings in shares of Royal Bank Of Canada by 1.9% during the second quarter. Brucke Financial Inc. now owns 4,264 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 79 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of Royal Bank Of Canada by 13.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 84 shares during the period. Contravisory Investment Management Inc. lifted its holdings in shares of 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 worth $268,000 after purchasing an additional 85 shares during the last quarter. Finally, Csenge Advisory Group lifted its holdings in shares of 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 worth $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

RY stock opened at $146.50 on Friday. The company has a 50-day simple moving average of $146.35 and a 200 day simple moving average of $136.19. The company has a market capitalization of $205.63 billion, a P/E ratio of 15.47, a PEG ratio of 1.48 and a beta of 0.86. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $149.44.

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 net margin of 14.03% and a return on equity of 16.12%. The company had revenue of $12.26 billion for the quarter, compared to the consensus estimate of $16.03 billion. During the same period in the previous year, the firm earned $3.26 EPS. Royal Bank Of Canada’s revenue was up 16.1% on a year-over-year basis. Sell-side analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RY has been the subject of a number of recent research reports. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Cibc World Mkts lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Erste Group Bank upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Monday, September 22nd. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Finally, Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Six investment 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 a consensus rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada 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.