Caitong International Asset Management Co. Ltd Increases Stake in Royal Bank Of Canada $RY

Caitong International Asset Management Co. Ltd grew its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 140.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 686 shares of the financial services provider’s stock after buying an additional 401 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Royal Bank Of Canada were worth $90,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. boosted its stake in shares of Royal Bank Of Canada by 2,272.7% in the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock valued at $29,000 after buying an additional 250 shares during the period. Roxbury Financial LLC lifted its stake in Royal Bank Of Canada by 44.3% during the second quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 104 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in Royal Bank Of Canada by 295.4% during the first quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 257 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Royal Bank Of Canada during the first quarter worth approximately $45,000. Finally, Financial Management Professionals Inc. lifted its stake in Royal Bank Of Canada by 29.2% during the second quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $147.73 on Friday. 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 $149.26. The stock has a 50 day moving average of $144.70 and a two-hundred day moving average of $132.65. The stock has a market cap of $207.60 billion, a P/E ratio of 15.60, a P/E/G ratio of 1.48 and a beta of 0.86.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share 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 company had revenue of $12.26 billion during the quarter, compared to analysts’ expectations of $16.03 billion. During the same quarter in the previous year, the business earned $3.26 earnings per share. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RY. CIBC cut Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research note on Friday, September 5th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Wednesday, October 8th. BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. National Bankshares restated a “sector perform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.