RPg Family Wealth Advisory LLC Makes New $96,000 Investment in Royal Bank of Canada (NYSE:RY)

RPg Family Wealth Advisory LLC bought a new position in Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 768 shares of the financial services provider’s stock, valued at approximately $96,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. National Bank of Canada FI raised its position in shares of Royal Bank of Canada by 16.7% in the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $2,141,681,000 after acquiring an additional 2,901,033 shares in the last quarter. FMR LLC grew its stake in Royal Bank of Canada by 75.8% in the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after purchasing an additional 7,702,585 shares during the last quarter. CIBC Asset Management Inc grew its stake in Royal Bank of Canada by 0.9% in the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after purchasing an additional 124,348 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Royal Bank of Canada by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock worth $1,289,274,000 after purchasing an additional 256,023 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Royal Bank of Canada by 1.8% during the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after buying an additional 190,341 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RY shares. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets raised their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Trading Up 0.9 %

RY stock opened at $125.27 on Thursday. Royal Bank of Canada has a 52-week low of $85.02 and a 52-week high of $126.96. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a market cap of $177.09 billion, a P/E ratio of 15.15, a PEG ratio of 1.92 and a beta of 0.86. The company’s 50-day simple moving average is $123.49 and its 200-day simple moving average is $115.11.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. The company had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. As a group, equities analysts forecast that Royal Bank of Canada will post 8.37 EPS for the current fiscal year.

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.