Prime Capital Investment Advisors LLC Reduces Stock Position in Royal Bank Of Canada $RY

Prime Capital Investment Advisors LLC lessened its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,032 shares of the financial services provider’s stock after selling 425 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Royal Bank Of Canada were worth $1,714,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Iowa State Bank purchased a new stake in Royal Bank Of Canada during the 2nd quarter valued at about $204,000. Valeo Financial Advisors LLC acquired a new stake in Royal Bank Of Canada during the 2nd quarter worth about $210,000. Knights of Columbus Asset Advisors LLC grew its position in Royal Bank Of Canada by 9.7% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 3,316 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 292 shares during the period. DAVENPORT & Co LLC grew its position in Royal Bank Of Canada by 1.1% during the 2nd quarter. DAVENPORT & Co LLC now owns 12,282 shares of the financial services provider’s stock worth $1,616,000 after purchasing an additional 132 shares during the period. Finally, Merit Financial Group LLC grew its position in Royal Bank Of Canada by 334.9% during the 2nd quarter. Merit Financial Group LLC now owns 35,729 shares of the financial services provider’s stock worth $4,700,000 after purchasing an additional 27,514 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RY. Cowen restated a “hold” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Argus upped their target price on 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. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Cibc World Mkts downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 5th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $145.09 on Thursday. The company has a market capitalization of $203.90 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.48 and a beta of 0.86. The business’s 50 day moving average is $141.49 and its two-hundred day moving average is $129.95. 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 has a 12-month low of $106.10 and a 12-month high of $149.26.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.43. The company had revenue of $12.26 billion for the quarter, compared to the consensus estimate of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.Royal Bank Of Canada’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.26 earnings per share. Analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

About Royal Bank Of Canada

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.