Cumberland Partners Ltd Sells 24,357 Shares of Royal Bank Of Canada $RY

Cumberland Partners Ltd decreased its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 371,191 shares of the financial services provider’s stock after selling 24,357 shares during the period. Royal Bank Of Canada accounts for 3.4% of Cumberland Partners Ltd’s portfolio, making the stock its 8th largest position. Cumberland Partners Ltd’s holdings in Royal Bank Of Canada were worth $48,886,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Trust Co of the South increased its position in shares of Royal Bank Of Canada by 0.3% in the 2nd quarter. Trust Co of the South now owns 25,121 shares of the financial services provider’s stock valued at $3,305,000 after buying an additional 78 shares in the last quarter. Brucke Financial Inc. grew its stake in Royal Bank Of Canada by 1.9% in the second quarter. Brucke Financial Inc. now owns 4,264 shares of the financial services provider’s stock valued at $561,000 after acquiring an additional 79 shares during the period. Contravisory Investment Management Inc. increased its holdings in shares of Royal Bank Of Canada by 4.3% in the second quarter. Contravisory Investment Management Inc. now owns 2,041 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 85 shares in the last quarter. Csenge Advisory Group increased its holdings in shares of Royal Bank Of Canada by 4.3% in the first quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 91 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its position in shares of Royal Bank Of Canada by 29.2% during the second quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 98 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $148.33 on Thursday. The stock has a 50-day moving average price of $146.59 and a 200 day moving average price of $136.77. The stock has a market capitalization of $208.20 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.48 and a beta of 0.86. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $149.44. 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 (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $16.03 billion. During the same period last year, the firm posted $3.26 EPS. The company’s revenue was up 16.1% on a year-over-year basis. Equities research analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RY shares. Cowen reissued a “hold” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. CIBC downgraded Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a report on Friday, September 5th. Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Royal Bank Of Canada currently has an average 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.