Caisse de depot et placement du Quebec Makes New $360.37 Million Investment in Royal Bank Of Canada $RY

Caisse de depot et placement du Quebec bought a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,740,913 shares of the financial services provider’s stock, valued at approximately $360,367,000.

A number of other institutional investors have also modified their holdings of RY. Brighton Jones LLC increased its stake in Royal Bank Of Canada by 33.1% in the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after buying an additional 575 shares during the period. AQR Capital Management LLC lifted its stake in shares of Royal Bank Of Canada by 60.9% in the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after acquiring an additional 4,460 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Royal Bank Of Canada by 57.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after acquiring an additional 1,934 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of Royal Bank Of Canada by 39.1% in the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after acquiring an additional 3,811 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Royal Bank Of Canada by 9.0% in the second quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock valued at $6,279,000 after acquiring an additional 3,928 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday. Finally, Keefe, Bruyette & Woods started coverage on Royal Bank Of Canada in a report on Friday, August 21st. They issued a “market perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $207.24 on Wednesday. The company has a 50-day simple moving average of $208.79 and a 200-day simple moving average of $187.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $287.36 billion, a PE ratio of 18.62, a P/E/G ratio of 1.53 and a beta of 0.80. Royal Bank Of Canada has a 52-week low of $136.10 and a 52-week high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter last year, the business earned $3.12 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts predict that Royal Bank Of Canada will post 11.59 earnings per share for the current fiscal year.

Royal Bank Of Canada Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.