Davis Rea LTD. Sells 1,588 Shares of Royal Bank Of Canada $RY

Davis Rea LTD. trimmed its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 90,843 shares of the financial services provider’s stock after selling 1,588 shares during the quarter. Royal Bank Of Canada accounts for about 3.0% of Davis Rea LTD.’s holdings, making the stock its 11th largest position. Davis Rea LTD.’s holdings in Royal Bank Of Canada were worth $11,936,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Trust Co of the South raised its stake in shares of Royal Bank Of Canada by 0.3% during the 2nd quarter. Trust Co of the South now owns 25,121 shares of the financial services provider’s stock valued at $3,305,000 after purchasing an additional 78 shares during the period. Brucke Financial Inc. raised its stake in shares of Royal Bank Of Canada by 1.9% during the 2nd quarter. Brucke Financial Inc. now owns 4,264 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 79 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of Royal Bank Of Canada by 13.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 84 shares during the period. Contravisory Investment Management Inc. raised its stake in shares of Royal Bank Of Canada by 4.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 2,041 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 85 shares during the period. Finally, Csenge Advisory Group raised its stake in shares of Royal Bank Of Canada by 4.3% during the 1st quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 91 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Price Performance

RY opened at $143.61 on Friday. The stock has a 50-day moving average price of $142.13 and a 200-day moving average price of $130.34. 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 has a market capitalization of $201.82 billion, a P/E ratio of 15.16, a PEG ratio of 1.47 and a beta of 0.86.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $16.03 billion. During the same period in the prior year, the business earned $3.26 EPS. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RY has been the subject of several recent analyst reports. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Argus boosted their target price on Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Wednesday. Finally, Cibc World Mkts cut Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Royal Bank Of Canada presently has a consensus 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.