Public Sector Pension Investment Board Buys 575 Shares of Royal Bank of Canada (NYSE:RY)

Public Sector Pension Investment Board grew its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 185,374 shares of the financial services provider’s stock after purchasing an additional 575 shares during the quarter. Public Sector Pension Investment Board’s holdings in Royal Bank of Canada were worth $23,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RY. Addison Advisors LLC increased its position in Royal Bank of Canada by 9.5% in the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after buying an additional 82 shares during the period. Mount Yale Investment Advisors LLC raised its stake in Royal Bank of Canada by 1.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 92 shares during the last quarter. Drive Wealth Management LLC boosted its holdings in Royal Bank of Canada by 3.4% in the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 92 shares during the period. Private Advisor Group LLC grew its position in Royal Bank of Canada by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 95 shares during the last quarter. Finally, HB Wealth Management LLC increased its holdings in shares of Royal Bank of Canada by 1.9% during the 2nd quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 100 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Up 0.9 %

Shares of NYSE RY opened at $125.27 on Thursday. The business has a fifty day moving average of $123.49 and a two-hundred day moving average of $115.11. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. Royal Bank of Canada has a 52-week low of $85.02 and a 52-week high of $126.96. The stock has a market cap of $177.09 billion, a PE ratio of 15.15, a PEG ratio of 1.92 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The firm had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. As a group, equities research analysts expect that Royal Bank of Canada will post 8.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on RY. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets lifted their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.50.

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.