Caisse de depot et placement du Quebec Takes $360.37 Million Position in Royal Bank Of Canada $RY

Caisse de depot et placement du Quebec acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,740,913 shares of the financial services provider’s stock, valued at approximately $360,367,000. Caisse de depot et placement du Quebec owned about 0.13% of Royal Bank Of Canada at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RY. HighTower Advisors LLC increased its stake in Royal Bank Of Canada by 18.5% in the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock valued at $16,407,000 after purchasing an additional 15,046 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Royal Bank Of Canada by 6.1% during the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after buying an additional 368,534 shares during the last quarter. Rathbones Group PLC lifted its position in shares of Royal Bank Of Canada by 9.0% during the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock worth $55,480,000 after buying an additional 26,782 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Royal Bank Of Canada in the 2nd quarter valued at $2,296,717,000. Finally, Indivisible Partners acquired a new position in shares of Royal Bank Of Canada in the 4th quarter valued at $7,335,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RY. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods initiated coverage on Royal Bank Of Canada in a report on Friday, August 21st. They issued a “market perform” rating for the company. Finally, Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Stock Performance

Shares of Royal Bank Of Canada stock opened at $207.24 on Wednesday. The firm’s fifty day simple moving average is $208.79 and its 200-day simple moving average is $187.29. Royal Bank Of Canada has a 12 month low of $136.10 and a 12 month high of $218.57. The stock has a market capitalization of $287.36 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.53 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter in the prior year, the business earned $3.12 EPS. Royal Bank Of Canada’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts forecast that Royal Bank Of Canada will post 11.59 earnings per share for the current year.

About Royal Bank Of Canada

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.