PDT Partners LLC Acquires Shares of 10,360 Royal Bank Of Canada $RY

PDT Partners LLC bought a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 10,360 shares of the financial services provider’s stock, valued at approximately $2,144,000.

A number of other large investors have also recently modified their holdings of the stock. Norges Bank bought a new position in Royal Bank Of Canada in the fourth quarter worth about $3,472,382,000. Bank of Nova Scotia purchased a new position in shares of Royal Bank Of Canada during the 2nd quarter worth approximately $2,549,157,000. The Manufacturers Life Insurance Company purchased a new position in shares of Royal Bank Of Canada during the 2nd quarter worth approximately $2,296,717,000. Canada Pension Plan Investment Board bought a new position in shares of Royal Bank Of Canada in the 2nd quarter worth approximately $2,275,797,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Royal Bank Of Canada in the 2nd quarter valued at approximately $2,260,820,000. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RY. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Keefe, Bruyette & Woods assumed coverage on shares of Royal Bank Of Canada in a report on Friday, August 21st. They set a “market perform” rating on the stock. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Finally, Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Up 0.2%

RY stock opened at $207.52 on Thursday. The business has a 50 day moving average of $208.92 and a 200 day moving average of $187.56. The firm has a market cap of $287.75 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.56 and a beta of 0.80. Royal Bank Of Canada has a twelve month low of $141.37 and a twelve month high of $218.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same period in the previous year, the company posted $3.12 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, research analysts forecast that Royal Bank Of Canada will post 11.59 EPS for the current fiscal year.

Royal Bank Of Canada Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.