Vanguard Group Inc. Acquires 2,437,164 Shares of Royal Bank Of Canada $RY

Vanguard Group Inc. increased its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,008,684 shares of the financial services provider’s stock after purchasing an additional 2,437,164 shares during the quarter. Vanguard Group Inc. owned 4.62% of Royal Bank Of Canada worth $8,567,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. TD Asset Management Inc grew its stake in shares of Royal Bank Of Canada by 0.9% during the second quarter. TD Asset Management Inc now owns 31,812,382 shares of the financial services provider’s stock valued at $4,184,220,000 after buying an additional 296,978 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of Royal Bank Of Canada by 8.0% in the 1st quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider’s stock valued at $1,892,975,000 after acquiring an additional 1,249,589 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in Royal Bank Of Canada by 3.4% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 12,656,362 shares of the financial services provider’s stock valued at $1,423,464,000 after acquiring an additional 420,466 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Royal Bank Of Canada by 2.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,431,721 shares of the financial services provider’s stock worth $1,287,927,000 after acquiring an additional 319,270 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Royal Bank Of Canada by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock worth $1,517,123,000 after acquiring an additional 1,910,492 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Stock Up 1.3%

Shares of Royal Bank Of Canada stock opened at $149.09 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. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $149.44. The company has a market cap of $209.26 billion, a P/E ratio of 15.74, a PEG ratio of 1.48 and a beta of 0.86. The company’s fifty day simple moving average is $146.50 and its two-hundred day simple moving average is $136.69.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share for the quarter, beating 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 firm had revenue of $12.26 billion for the quarter, compared to analyst estimates of $16.03 billion. During the same quarter in the previous year, the firm posted $3.26 EPS. The company’s revenue for the quarter 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.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RY shares. Argus boosted their price objective on 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. Cibc World Mkts downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 5th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Zacks Research cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Erste Group Bank raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.