Royal Bank of Canada (NYSE:RY) Stake Cut by UBS Group AG

UBS Group AG reduced its holdings in Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 28.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 444,413 shares of the financial services provider’s stock after selling 179,904 shares during the period. UBS Group AG’s holdings in Royal Bank of Canada were worth $43,027,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Private Wealth Group LLC raised its stake in shares of Royal Bank of Canada by 185.6% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 277 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 180 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Royal Bank of Canada by 56.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 290 shares of the financial services provider’s stock valued at $28,000 after buying an additional 105 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Royal Bank of Canada in the 2nd quarter valued at approximately $29,000. Venture Visionary Partners LLC acquired a new stake in Royal Bank of Canada in the 2nd quarter valued at approximately $33,000. Finally, Win Advisors Inc. grew its holdings in Royal Bank of Canada by 70.3% in the 2nd quarter. Win Advisors Inc. now owns 356 shares of the financial services provider’s stock valued at $35,000 after buying an additional 147 shares during the last quarter. 40.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RY has been the topic of a number of research analyst reports. Barclays assumed coverage on Royal Bank of Canada in a report on Thursday, September 29th. They issued an “overweight” rating on the stock. Canaccord Genuity Group lowered their price objective on Royal Bank of Canada from C$134.00 to C$131.50 and set a “hold” rating on the stock in a research report on Thursday, August 18th. Credit Suisse Group lowered their price objective on Royal Bank of Canada from C$144.00 to C$143.00 in a research report on Thursday, August 25th. Scotiabank lowered their price objective on Royal Bank of Canada from C$147.00 to C$144.00 in a research report on Thursday, August 18th. Finally, Desjardins lowered their price objective on Royal Bank of Canada from C$143.00 to C$141.00 in a research report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Royal Bank of Canada has a consensus rating of “Hold” and a consensus target price of $139.81.

Royal Bank of Canada Price Performance

Shares of RY opened at $100.81 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.89 and a quick ratio of 0.89. Royal Bank of Canada has a 1-year low of $83.63 and a 1-year high of $119.41. The stock has a market cap of $139.74 billion, a PE ratio of 11.63, a P/E/G ratio of 2.36 and a beta of 0.82. The firm has a 50-day simple moving average of $93.02 and a two-hundred day simple moving average of $96.17.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last issued its quarterly earnings data on Wednesday, August 24th. The financial services provider reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.01. The firm had revenue of $9.43 billion for the quarter. Royal Bank of Canada had a net margin of 26.29% and a return on equity of 16.85%. As a group, analysts forecast that Royal Bank of Canada will post 8.41 EPS for the current year.

Royal Bank of Canada Profile

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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.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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