TrueMark Investments LLC Grows Holdings in Royal Bank Of Canada $RY

TrueMark Investments LLC raised its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 18.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,236 shares of the financial services provider’s stock after buying an additional 966 shares during the period. TrueMark Investments LLC’s holdings in Royal Bank Of Canada were worth $820,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Alta Capital Management LLC acquired a new stake in shares of Royal Bank Of Canada in the second quarter valued at about $207,000. Generali Asset Management SPA SGR grew its position in shares of Royal Bank Of Canada by 7.0% in the second quarter. Generali Asset Management SPA SGR now owns 65,447 shares of the financial services provider’s stock valued at $8,610,000 after purchasing an additional 4,279 shares during the period. Tuttle Capital Management LLC grew its position in shares of Royal Bank Of Canada by 15.0% in the second quarter. Tuttle Capital Management LLC now owns 5,152 shares of the financial services provider’s stock valued at $678,000 after purchasing an additional 672 shares during the period. Ritholtz Wealth Management grew its position in shares of Royal Bank Of Canada by 2.8% in the second quarter. Ritholtz Wealth Management now owns 34,353 shares of the financial services provider’s stock valued at $4,519,000 after purchasing an additional 930 shares during the period. Finally, Sagespring Wealth Partners LLC grew its position in shares of Royal Bank Of Canada by 136.7% in the second quarter. Sagespring Wealth Partners LLC now owns 5,770 shares of the financial services provider’s stock valued at $759,000 after purchasing an additional 3,332 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 0.3%

Shares of NYSE RY opened at $145.81 on Monday. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $149.26. The stock has a market cap of $204.91 billion, a PE ratio of 15.40, a P/E/G ratio of 1.46 and a beta of 0.86. 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 company has a 50-day moving average of $143.53 and a 200 day moving average of $131.67.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.43. The company had revenue of $12.26 billion during the quarter, compared to analysts’ expectations of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. Royal Bank Of Canada’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.26 EPS. As a group, sell-side analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RY. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. CIBC lowered shares of Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research report on Friday, September 5th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Cibc World Mkts cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 5th. Finally, Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.50.

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.