Citizens Financial Group Inc. RI Purchases 428 Shares of Royal Bank Of Canada $RY

Citizens Financial Group Inc. RI boosted its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 6.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,716 shares of the financial services provider’s stock after purchasing an additional 428 shares during the period. Citizens Financial Group Inc. RI’s holdings in Royal Bank Of Canada were worth $884,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Royal Bank Of Canada by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider’s stock valued at $7,048,307,000 after purchasing an additional 3,387,971 shares in the last quarter. TD Asset Management Inc raised its position in Royal Bank Of Canada by 0.9% in the 2nd quarter. TD Asset Management Inc now owns 31,812,382 shares of the financial services provider’s stock worth $4,184,220,000 after purchasing an additional 296,978 shares during the period. Bank of Nova Scotia lifted 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 worth $1,892,975,000 after purchasing an additional 1,249,589 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its position in Royal Bank Of Canada by 3.4% during the first quarter. Federation des caisses Desjardins du Quebec now owns 12,656,362 shares of the financial services provider’s stock valued at $1,423,464,000 after buying an additional 420,466 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Royal Bank Of Canada by 2.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,431,721 shares of the financial services provider’s stock valued at $1,287,927,000 after buying an additional 319,270 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RY. Cowen reissued a “hold” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. CIBC downgraded Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research report on Friday, September 5th. Wall Street Zen upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. National Bankshares reiterated a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Finally, Zacks Research cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.50.

Royal Bank Of Canada Stock Up 1.3%

NYSE RY opened at $149.09 on Wednesday. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $149.44. The stock has a market capitalization of $209.26 billion, a PE ratio of 15.74, a PEG 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’s 50-day moving average is $146.50 and its 200 day moving average is $136.69.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released 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 business 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 business’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted $3.26 EPS. Sell-side analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

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.