Laurel Wealth Advisors LLC Has $48.89 Million Stake in Royal Bank Of Canada $RY

Laurel Wealth Advisors LLC grew its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 13,055.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 371,629 shares of the financial services provider’s stock after buying an additional 368,804 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Royal Bank Of Canada were worth $48,888,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in Royal Bank Of Canada in the first quarter valued at approximately $32,000. Roxbury Financial LLC boosted its holdings in shares of Royal Bank Of Canada by 44.3% in the 2nd quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 104 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Royal Bank Of Canada by 2,170.0% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 454 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 434 shares in the last quarter. Financial Management Professionals Inc. increased its stake in shares of Royal Bank Of Canada by 29.2% in the 2nd quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 98 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new position in shares of Royal Bank Of Canada during the 1st quarter worth $59,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $152.24 on Wednesday. The company has a market capitalization of $213.23 billion, a PE ratio of 16.08, 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. The stock’s 50 day moving average price is $146.96 and its 200-day moving average price is $137.72. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $152.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released 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 company had revenue of $12.26 billion for the quarter, compared to analysts’ expectations of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.26 EPS. On average, equities analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on RY. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Wednesday, October 8th. BMO Capital Markets reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Cibc World Mkts downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Finally, Jefferies Financial Group downgraded shares of Royal Bank Of Canada from a “buy” rating to a “hold” rating in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.