Royal Bank Of Canada $RY Stock Position Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.5% during the second quarter, Holdings Channel reports. The institutional investor owned 6,555,945 shares of the financial services provider’s stock after acquiring an additional 97,733 shares during the period. JPMorgan Chase & Co.’s holdings in Royal Bank Of Canada were worth $862,435,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RY. Vanguard Group Inc. raised its holdings in Royal Bank Of Canada by 3.9% during the second quarter. Vanguard Group Inc. now owns 65,008,684 shares of the financial services provider’s stock worth $8,567,752,000 after purchasing an additional 2,437,164 shares in the last quarter. TD Asset Management Inc boosted its stake in Royal Bank Of Canada by 0.9% during the 2nd quarter. TD Asset Management Inc now owns 31,812,382 shares of the financial services provider’s stock valued at $4,184,220,000 after purchasing an additional 296,978 shares in the last quarter. Bank of Nova Scotia increased its position in shares of Royal Bank Of Canada by 8.0% during the 1st quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider’s stock valued at $1,892,975,000 after purchasing an additional 1,249,589 shares during the period. Federation des caisses Desjardins du Quebec increased its position in shares of Royal Bank Of Canada by 3.4% during the 1st 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 purchasing an additional 420,466 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Royal Bank Of Canada by 2.9% in the 1st 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 buying an additional 319,270 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

RY stock opened at $149.86 on Friday. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $150.25. The firm has a 50-day moving average of $146.75 and a two-hundred day moving average of $137.16. The firm has a market capitalization of $209.90 billion, a PE ratio of 15.82, a P/E/G ratio of 1.48 and a beta of 0.86. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its 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 posted $3.26 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RY. Wall Street Zen raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Wednesday, October 8th. Cibc World Mkts lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 5th. Finally, Argus lifted their price target on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.