Pinnacle Wealth Planning Services Inc. Cuts Stake in Royal Bank Of Canada $RY

Pinnacle Wealth Planning Services Inc. decreased its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 18.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,883 shares of the financial services provider’s stock after selling 433 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Royal Bank Of Canada were worth $248,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada during the 1st quarter valued at about $32,000. Roxbury Financial LLC increased its stake in shares of Royal Bank Of Canada by 44.3% in the 2nd quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 104 shares in the last quarter. Financial Management Professionals Inc. raised its stake in shares of Royal Bank Of Canada by 29.2% in the second quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock worth $57,000 after buying an additional 98 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in Royal Bank Of Canada by 2,170.0% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 454 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 434 shares in the last quarter. Finally, Avalon Trust Co bought a new stake in Royal Bank Of Canada during the second quarter valued at about $66,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Trading Down 0.5%

Shares of RY opened at $148.33 on Thursday. The company’s fifty day simple moving average is $146.59 and its 200-day simple moving average is $136.77. The company has a market cap of $208.20 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.48 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. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $149.44.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $16.03 billion. During the same quarter in the prior year, the firm posted $3.26 earnings per share. The company’s quarterly 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 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. CIBC downgraded Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research note on Friday, September 5th. Wall Street Zen raised shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Argus raised their price objective on Royal Bank Of Canada from $140.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $177.50.

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.