Royal Bank Of Canada $RY Shares Sold by Louisbourg Investments Inc.

Louisbourg Investments Inc. lessened its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,233 shares of the financial services provider’s stock after selling 1,744 shares during the quarter. Louisbourg Investments Inc.’s holdings in Royal Bank Of Canada were worth $3,714,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Brucke Financial Inc. boosted its holdings in shares of Royal Bank Of Canada by 1.9% in the 2nd quarter. Brucke Financial Inc. now owns 4,264 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 79 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of Royal Bank Of Canada by 13.6% in the 2nd quarter. PDS Planning Inc now owns 5,199 shares of the financial services provider’s stock valued at $684,000 after purchasing an additional 621 shares during the last quarter. Baskin Financial Services Inc. lifted its holdings in shares of Royal Bank Of Canada by 3.3% during the 2nd quarter. Baskin Financial Services Inc. now owns 64,946 shares of the financial services provider’s stock valued at $8,558,000 after acquiring an additional 2,091 shares in the last quarter. Callan Family Office LLC acquired a new position in shares of Royal Bank Of Canada during the 2nd quarter valued at $389,000. Finally, Live Oak Investment Partners acquired a new position in shares of Royal Bank Of Canada during the 2nd quarter valued at $409,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the topic of several recent research reports. Wall Street Zen lowered shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Wednesday. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. National Bankshares restated a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. 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 an average price target of $177.50.

Royal Bank Of Canada Stock Performance

Royal Bank Of Canada stock opened at $143.61 on Friday. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $149.26. The company has a market capitalization of $201.82 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The firm’s fifty day moving average price is $142.13 and its 200 day moving average price is $130.34.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly 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. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The firm had revenue of $12.26 billion for the quarter, compared to the consensus estimate of $16.03 billion. During the same quarter in the previous year, the firm posted $3.26 EPS. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. On average, research analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current fiscal 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.