Maryland State Retirement & Pension System Increases Stake in Royal Bank Of Canada $RY

Maryland State Retirement & Pension System boosted its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 0.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 133,267 shares of the financial services provider’s stock after purchasing an additional 570 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Royal Bank Of Canada were worth $17,577,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Royal Bank Of Canada by 5.7% in 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 purchasing an additional 3,387,971 shares during the period. TD Asset Management Inc grew its holdings in Royal Bank Of Canada by 0.9% in the first quarter. TD Asset Management Inc now owns 31,515,404 shares of the financial services provider’s stock worth $3,549,520,000 after purchasing an additional 277,466 shares during the period. Bank of Nova Scotia grew its holdings 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 period. Federation des caisses Desjardins du Quebec grew its holdings in Royal Bank Of Canada by 3.4% in the first quarter. Federation des caisses Desjardins du Quebec now owns 12,656,362 shares of the financial services provider’s stock worth $1,423,464,000 after purchasing an additional 420,466 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Royal Bank Of Canada by 2.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,431,721 shares of the financial services provider’s stock worth $1,287,927,000 after purchasing an additional 319,270 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Down 0.5%

Shares of Royal Bank Of Canada stock opened at $145.09 on Thursday. The company has a market cap of $203.90 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. The company’s 50 day moving average is $141.49 and its 200 day moving average is $129.95. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $149.26. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results 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. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The business had revenue of $12.26 billion for the quarter, compared to the consensus estimate of $16.03 billion. During the same period last year, the firm earned $3.26 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. Research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RY. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Erste Group Bank upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Monday, September 22nd. Argus upped their target price on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average 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.