PDT Partners LLC Takes $2.14 Million Position in Royal Bank Of Canada $RY

PDT Partners LLC purchased a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, Holdings Channel reports. The fund purchased 10,360 shares of the financial services provider’s stock, valued at approximately $2,144,000.

A number of other hedge funds also recently added to or reduced their stakes in RY. Brighton Jones LLC increased its holdings in shares of 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 worth $279,000 after purchasing an additional 575 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Royal Bank Of Canada by 60.9% during the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock valued at $1,321,000 after purchasing an additional 4,460 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Royal Bank Of Canada by 57.7% during the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after buying an additional 1,934 shares during the last quarter. Baird Financial Group Inc. boosted its position in shares of Royal Bank Of Canada by 39.1% during 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 buying an additional 3,811 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in Royal Bank Of Canada by 9.0% in the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock worth $6,279,000 after buying an additional 3,928 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RY shares. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a report on Thursday, June 11th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods started coverage on shares of Royal Bank Of Canada in a research report on Friday, August 21st. They issued a “market perform” rating for the company. One equities research 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Price Performance

NYSE RY opened at $207.52 on Thursday. Royal Bank Of Canada has a 52 week low of $141.37 and a 52 week high of $218.57. The firm has a market capitalization of $287.75 billion, a P/E ratio of 18.65, a PEG ratio of 1.56 and a beta of 0.80. 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 50-day moving average price of $208.92 and a 200-day moving average price of $187.56.

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