UBS Group AG Sells 179,904 Shares of Royal Bank of Canada (NYSE:RY)

UBS Group AG lowered its position in Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 28.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 444,413 shares of the financial services provider’s stock after selling 179,904 shares during the period. UBS Group AG’s holdings in Royal Bank of Canada were worth $43,027,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in shares of Royal Bank of Canada by 2.9% during the first quarter. Envestnet Asset Management Inc. now owns 173,341 shares of the financial services provider’s stock valued at $19,114,000 after buying an additional 4,919 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Royal Bank of Canada by 19.6% during the second quarter. M&T Bank Corp now owns 54,327 shares of the financial services provider’s stock worth $4,586,000 after purchasing an additional 8,914 shares during the period. Venture Visionary Partners LLC purchased a new stake in Royal Bank of Canada in the second quarter worth about $33,000. Principal Financial Group Inc. purchased a new stake in Royal Bank of Canada in the first quarter worth about $16,895,000. Finally, Moreno Evelyn V purchased a new stake in Royal Bank of Canada in the first quarter worth about $328,000. Institutional investors own 40.46% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of RY stock opened at $100.81 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $139.74 billion, a P/E ratio of 11.63, a P/E/G ratio of 2.36 and a beta of 0.82. The company’s 50-day simple moving average is $93.02 and its two-hundred day simple moving average is $96.17. Royal Bank of Canada has a one year low of $83.63 and a one year high of $119.41.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last issued its earnings results on Wednesday, August 24th. The financial services provider reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.01. The business had revenue of $9.43 billion for the quarter. Royal Bank of Canada had a net margin of 26.29% and a return on equity of 16.85%. As a group, equities analysts anticipate that Royal Bank of Canada will post 8.41 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on RY shares. Keefe, Bruyette & Woods lowered shares of Royal Bank of Canada from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from C$132.00 to C$118.00 in a report on Monday, August 8th. Scotiabank lowered their target price on shares of Royal Bank of Canada from C$147.00 to C$144.00 in a report on Thursday, August 18th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Friday, November 18th. Canaccord Genuity Group decreased their price target on shares of Royal Bank of Canada from C$134.00 to C$131.50 and set a “hold” rating on the stock in a research note on Thursday, August 18th. Finally, National Bank Financial boosted their target price on shares of Royal Bank of Canada from C$147.00 to C$148.00 in a report on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $139.81.

Royal Bank of Canada Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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