William Blair Investment Management LLC Sells 1,421,835 Shares of Royal Bank Of Canada $RY

William Blair Investment Management LLC lowered its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 99.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,617 shares of the financial services provider’s stock after selling 1,421,835 shares during the quarter. William Blair Investment Management LLC’s holdings in Royal Bank Of Canada were worth $1,981,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp increased its holdings in shares of Royal Bank Of Canada by 10.6% in the third quarter. Truist Financial Corp now owns 101,173 shares of the financial services provider’s stock worth $14,905,000 after purchasing an additional 9,677 shares during the period. Envestnet Asset Management Inc. increased its stake in Royal Bank Of Canada by 2.2% in the third quarter. Envestnet Asset Management Inc. now owns 344,993 shares of the financial services provider’s stock valued at $50,824,000 after acquiring an additional 7,278 shares during the last quarter. HighTower Advisors LLC increased its stake in Royal Bank Of Canada by 18.5% in the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock valued at $16,407,000 after acquiring an additional 15,046 shares during the last quarter. Legal & General Group Plc increased its stake in Royal Bank Of Canada by 3.6% in the third quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock valued at $1,219,924,000 after acquiring an additional 287,504 shares during the last quarter. Finally, Fiera Capital Corp increased its stake in Royal Bank Of Canada by 2.1% in the third quarter. Fiera Capital Corp now owns 4,854,424 shares of the financial services provider’s stock valued at $715,227,000 after acquiring an additional 99,966 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $189.97 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. Royal Bank Of Canada has a one year low of $124.19 and a one year high of $191.51. The company has a 50-day simple moving average of $173.72 and a two-hundred day simple moving average of $167.69. The firm has a market capitalization of $265.52 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.49 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The business had revenue of $13.18 billion during the quarter, compared to analyst estimates of $12.60 billion. During the same period last year, the business posted $3.62 earnings per share. Royal Bank Of Canada’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts anticipate that Royal Bank Of Canada will post 11.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RY shares. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, May 4th. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Weiss Ratings lowered shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Finally, Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.