Letko Brosseau & Associates Inc. Has $201.05 Million Stock Holdings in Royal Bank Of Canada $RY

Letko Brosseau & Associates Inc. decreased its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.1% during the second quarter, HoldingsChannel.com reports. The fund owned 1,528,535 shares of the financial services provider’s stock after selling 17,632 shares during the quarter. Royal Bank Of Canada comprises 3.8% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its 3rd biggest position. Letko Brosseau & Associates Inc.’s holdings in Royal Bank Of Canada were worth $201,045,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Royal Bank Of Canada in the first quarter valued at $32,000. Cullen Frost Bankers Inc. lifted its position in 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 purchasing an additional 257 shares during the last quarter. Roxbury Financial LLC grew its stake in shares of Royal Bank Of Canada by 44.3% in the 2nd quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock worth $45,000 after buying an additional 104 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Royal Bank Of Canada by 2,170.0% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 454 shares of the financial services provider’s stock worth $51,000 after buying an additional 434 shares during the last quarter. Finally, Financial Management Professionals Inc. raised its position in shares of Royal Bank Of Canada by 29.2% during the 2nd quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock valued at $57,000 after buying an additional 98 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Trading Down 0.2%

Shares of RY opened at $146.50 on Friday. The firm has a market capitalization of $205.63 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.48 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. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $149.44. The company has a 50-day moving average of $146.35 and a 200 day moving average of $136.19.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $12.26 billion for the quarter, compared to analyst estimates of $16.03 billion. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company posted $3.26 earnings per share. On average, research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on RY shares. Erste Group Bank upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Monday, September 22nd. Cibc World Mkts downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Zacks Research downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Finally, National Bankshares restated a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada 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.