Northwest & Ethical Investments L.P. Sells 48,357 Shares of Royal Bank of Canada (NYSE:RY)

Northwest & Ethical Investments L.P. reduced its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 429,016 shares of the financial services provider’s stock after selling 48,357 shares during the quarter. Royal Bank of Canada accounts for approximately 1.4% of Northwest & Ethical Investments L.P.’s holdings, making the stock its 7th biggest position. Northwest & Ethical Investments L.P.’s holdings in Royal Bank of Canada were worth $53,551,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RY. PNC Financial Services Group Inc. raised its stake in shares of Royal Bank of Canada by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after purchasing an additional 4,980 shares in the last quarter. Legal & General Group Plc increased its holdings in Royal Bank of Canada by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after buying an additional 190,341 shares during the period. Creative Planning raised its stake in shares of Royal Bank of Canada by 6.4% in the 3rd quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock valued at $26,369,000 after buying an additional 12,693 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after acquiring an additional 124,348 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Royal Bank of Canada during the 2nd quarter valued at about $3,787,000. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Price Performance

RY traded up $1.12 during trading on Thursday, hitting $125.27. The company’s stock had a trading volume of 1,399,717 shares, compared to its average volume of 1,094,776. Royal Bank of Canada has a 12 month low of $85.02 and a 12 month high of $126.96. The stock has a market capitalization of $177.09 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average price is $123.49 and its two-hundred day moving average price is $115.11.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The firm had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $10.40 billion. Sell-side analysts forecast that Royal Bank of Canada will post 8.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RY. BMO Capital Markets increased their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $142.50.

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.