American Century Companies Inc. Grows Stock Holdings in Royal Bank Of Canada $RY

American Century Companies Inc. increased its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 12.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 272,102 shares of the financial services provider’s stock after purchasing an additional 30,906 shares during the quarter. American Century Companies Inc.’s holdings in Royal Bank Of Canada were worth $35,861,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in Royal Bank Of Canada by 129.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider’s stock valued at $796,227,000 after buying an additional 3,990,839 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Royal Bank Of Canada by 5.7% in the first quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider’s stock worth $7,048,307,000 after acquiring an additional 3,387,971 shares during the period. Canada Pension Plan Investment Board increased its position in Royal Bank Of Canada by 104.6% during the first quarter. Canada Pension Plan Investment Board now owns 6,346,768 shares of the financial services provider’s stock valued at $715,043,000 after acquiring an additional 3,244,266 shares during the last quarter. Geode Capital Management LLC increased its position in Royal Bank Of Canada by 20.2% during the second quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock valued at $1,517,123,000 after acquiring an additional 1,910,492 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in Royal Bank Of Canada by 8.0% in the first quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider’s stock valued at $1,892,975,000 after acquiring an additional 1,249,589 shares during the period. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Shares of Royal Bank Of Canada stock opened at $154.69 on Friday. The company has a market capitalization of $216.67 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.48 and a beta of 0.86. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock’s 50-day simple moving average is $147.38 and its 200-day simple moving average is $138.28. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $154.64.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.43. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The firm had revenue of $12.26 billion during the quarter, compared to analysts’ expectations of $16.03 billion. During the same quarter last year, the business posted $3.26 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. As a group, analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RY. Jefferies Financial Group downgraded Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Tuesday. Cibc World Mkts downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, September 5th. Erste Group Bank raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. Cowen reiterated a “hold” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.50.

Royal Bank Of Canada 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.