Scotia Capital Inc. Purchases 141,761 Shares of Royal Bank Of Canada $RY

Scotia Capital Inc. grew its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,065,967 shares of the financial services provider’s stock after buying an additional 141,761 shares during the period. Royal Bank Of Canada accounts for approximately 5.6% of Scotia Capital Inc.’s investment portfolio, making the stock its largest position. Scotia Capital Inc. owned 0.64% of Royal Bank Of Canada worth $1,191,770,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in Royal Bank Of Canada by 129.9% in the first quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider’s stock valued at $796,227,000 after acquiring an additional 3,990,839 shares during the last quarter. Vanguard Group Inc. increased its stake in Royal Bank Of Canada by 5.7% during the first 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 last quarter. Canada Pension Plan Investment Board raised its position in Royal Bank Of Canada by 104.6% in the first 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 purchasing an additional 3,244,266 shares during the period. Picton Mahoney Asset Management purchased a new stake in Royal Bank Of Canada in the second quarter valued at $329,983,000. Finally, Geode Capital Management LLC lifted its stake in shares of Royal Bank Of Canada by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock valued at $1,517,123,000 after purchasing an additional 1,910,492 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Shares of Royal Bank Of Canada stock opened at $153.14 on Friday. The stock has a market capitalization of $214.50 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50-day moving average of $147.23 and a 200 day moving average of $137.93. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $153.26.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results 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 net margin of 14.03% and a return on equity of 16.12%. The company had revenue of $12.26 billion for the quarter, compared to analyst estimates of $16.03 billion. During the same period in the prior year, the firm earned $3.26 earnings per share. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Wednesday, October 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Jefferies Financial Group cut shares of Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research report on Tuesday. Cibc World Mkts downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 5th. Finally, UBS Group restated a “buy” rating on shares of Royal Bank Of Canada in a report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.