Simon Quick Advisors LLC Makes New Investment in Royal Bank Of Canada $RY

Simon Quick Advisors LLC acquired a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,288 shares of the financial services provider’s stock, valued at approximately $301,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RY. Caitong International Asset Management Co. Ltd bought a new position in shares of Royal Bank Of Canada during the first quarter valued at $32,000. Cullen Frost Bankers Inc. increased its holdings in shares of Royal Bank Of Canada by 295.4% during the first quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 257 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Royal Bank Of Canada during the first quarter valued at $45,000. Roxbury Financial LLC increased its holdings in shares of Royal Bank Of Canada by 44.3% during the second quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 104 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Royal Bank Of Canada by 2,170.0% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 454 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 434 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RY has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Wednesday, October 8th. Argus raised their price target on Royal Bank Of Canada from $140.00 to $162.00 and gave the company a “buy” rating in a report on Friday, August 29th. Erste Group Bank upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. Zacks Research cut Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $177.50.

Royal Bank Of Canada Trading Up 0.6%

Shares of NYSE:RY opened at $147.32 on Tuesday. The stock has a market capitalization of $206.78 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.48 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s 50-day simple moving average is $145.98 and its two-hundred day simple moving average is $134.49. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $149.44.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.43. The business had revenue of $12.26 billion for 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 for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $3.26 earnings per share. Analysts expect that Royal Bank Of Canada will post 9.16 EPS 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.