Drive Wealth Management LLC Purchases 139 Shares of Royal Bank Of Canada $RY

Drive Wealth Management LLC lifted its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,939 shares of the financial services provider’s stock after purchasing an additional 139 shares during the quarter. Drive Wealth Management LLC’s holdings in Royal Bank Of Canada were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in Royal Bank Of Canada by 129.9% during the first quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider’s stock worth $796,227,000 after buying an additional 3,990,839 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Royal Bank Of Canada by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider’s stock worth $7,048,307,000 after acquiring an additional 3,387,971 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Royal Bank Of Canada by 104.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 6,346,768 shares of the financial services provider’s stock valued at $715,043,000 after acquiring an additional 3,244,266 shares in the last quarter. Bank of Nova Scotia increased its stake in Royal Bank Of Canada by 8.0% in the first quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider’s stock valued at $1,892,975,000 after acquiring an additional 1,249,589 shares during the period. Finally, Nuveen LLC bought a new stake in Royal Bank Of Canada in the first quarter valued at about $114,327,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $146.97 on Tuesday. The business’s 50-day simple moving average is $143.80 and its 200 day simple moving average is $131.92. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a market cap of $206.55 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 1.46 and a beta of 0.86. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $149.26.

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 for the quarter, topping the consensus estimate of $2.36 by $0.43. The firm had revenue of $12.26 billion during the quarter, compared to analysts’ expectations of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.26 EPS. As a group, research analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. 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 report on Friday, August 15th. Wall Street Zen cut Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Erste Group Bank raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. Finally, Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada 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.