Royal Bank of Canada (NYSE:RY) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 24.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,487 shares of the financial services provider’s stock after acquiring an additional 8,576 shares during the quarter. Cerity Partners LLC’s holdings in Royal Bank of Canada were worth $5,424,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its position in shares of Royal Bank of Canada by 29.0% in the 1st quarter. Advisors Asset Management Inc. now owns 2,953 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 664 shares in the last quarter. Virtu Financial LLC boosted its holdings in Royal Bank of Canada by 50.6% in the first quarter. Virtu Financial LLC now owns 4,113 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 1,382 shares during the period. Cetera Investment Advisers increased its stake in Royal Bank of Canada by 390.4% during the first quarter. Cetera Investment Advisers now owns 25,057 shares of the financial services provider’s stock valued at $2,528,000 after purchasing an additional 19,948 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of Royal Bank of Canada by 125.1% during the first quarter. Cetera Advisors LLC now owns 4,558 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 2,533 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Royal Bank of Canada by 11.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 949,599 shares of the financial services provider’s stock worth $95,313,000 after buying an additional 100,900 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RY. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. BMO Capital Markets increased their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Stock Performance

RY opened at $125.27 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $123.53 and its 200-day moving average is $115.18. The stock has a market cap of $177.09 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86. Royal Bank of Canada has a twelve month low of $85.02 and a twelve month high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The firm had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. On average, analysts predict that Royal Bank of Canada will post 8.37 earnings per share for the current year.

Royal Bank of Canada Company 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.