Kingswood Wealth Advisors LLC Takes Position in Royal Bank Of Canada $RY

Kingswood Wealth Advisors LLC acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,590 shares of the financial services provider’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RY. Brighton Jones LLC boosted its holdings in Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 575 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Royal Bank Of Canada by 236,616.7% in the first quarter. GAMMA Investing LLC now owns 14,203 shares of the financial services provider’s stock valued at $1,601,000 after acquiring an additional 14,197 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Royal Bank Of Canada by 47.5% in the first quarter. Assenagon Asset Management S.A. now owns 65,100 shares of the financial services provider’s stock valued at $7,332,000 after acquiring an additional 20,974 shares during the last quarter. CX Institutional acquired a new position in Royal Bank Of Canada in the first quarter valued at $199,000. Finally, Elevation Point Wealth Partners LLC boosted its holdings in Royal Bank Of Canada by 3.9% in the first quarter. Elevation Point Wealth Partners LLC now owns 5,093 shares of the financial services provider’s stock valued at $574,000 after acquiring an additional 193 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RY shares. Wall Street Zen cut Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Argus increased their target price on Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada Trading Down 1.1%

Shares of NYSE RY opened at $143.61 on Friday. The company has a market cap of $201.82 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.45 and a beta of 0.86. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $149.26. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock’s 50 day simple moving average is $142.13 and its 200 day simple moving average is $130.44.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly 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. The business had revenue of $12.26 billion for the quarter, compared to the consensus estimate of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The business’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted $3.26 EPS. Equities research analysts expect that Royal Bank Of Canada will post 9.16 EPS 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.