Canada Pension Plan Investment Board Invests $2.28 Billion in Royal Bank Of Canada $RY

Canada Pension Plan Investment Board acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,001,378 shares of the financial services provider’s stock, valued at approximately $2,275,797,000. Royal Bank Of Canada makes up approximately 1.3% of Canada Pension Plan Investment Board’s portfolio, making the stock its 14th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd purchased a new position in Royal Bank Of Canada in the fourth quarter valued at about $25,000. Key Financial Inc raised its stake in shares of Royal Bank Of Canada by 63.0% during the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 63 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada during the 3rd quarter valued at about $27,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Royal Bank Of Canada during the 2nd quarter valued at about $28,000. Finally, Maseco LLP grew its stake in shares of Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after buying an additional 142 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Up 1.6%

NYSE:RY opened at $207.24 on Wednesday. The company’s 50 day moving average is $208.79 and its 200-day moving average is $187.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 12 month low of $136.10 and a 12 month high of $218.57. The firm has a market cap of $287.36 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 1.53 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same period in the prior year, the firm earned $3.12 EPS. Royal Bank Of Canada’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts anticipate that Royal Bank Of Canada will post 11.59 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RY shares. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods assumed coverage on shares of Royal Bank Of Canada in a research report on Friday, August 21st. They issued a “market perform” rating for the company. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.