Quadrant Capital Group LLC Boosts Stake in Royal Bank Of Canada $RY

Quadrant Capital Group LLC raised its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 10.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,294 shares of the financial services provider’s stock after purchasing an additional 4,435 shares during the quarter. Quadrant Capital Group LLC’s holdings in Royal Bank Of Canada were worth $5,958,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada in the 1st quarter valued at $32,000. Roxbury Financial LLC grew its position in 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 acquiring an additional 104 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Royal Bank Of Canada by 2,170.0% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 454 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 434 shares during the period. Financial Management Professionals Inc. lifted its position in shares of Royal Bank Of Canada by 29.2% during the second quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 98 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new position in shares of Royal Bank Of Canada in the first quarter valued at approximately $59,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Trading Up 0.6%

RY opened at $153.14 on Thursday. The business’s 50 day moving average is $147.09 and its two-hundred day moving average is $137.83. The firm has a market cap of $214.50 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $153.26. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, beating the consensus estimate 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 business had revenue of $12.26 billion during the quarter, compared to analysts’ expectations of $16.03 billion. During the same period last year, the firm earned $3.26 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, research analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. CIBC lowered Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research report on Friday, September 5th. Jefferies Financial Group downgraded Royal Bank Of Canada from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Monday. Erste Group Bank upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Monday, September 22nd. Finally, National Bankshares reiterated a “sector perform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average 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.