Zurcher Kantonalbank Zurich Cantonalbank Acquires 17,917 Shares of Royal Bank of Canada (NYSE:RY)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 519,538 shares of the financial services provider’s stock after acquiring an additional 17,917 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Royal Bank of Canada were worth $64,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Royal Bank of Canada during the 3rd quarter worth $96,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Royal Bank of Canada by 165.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock worth $361,532,000 after purchasing an additional 1,804,022 shares during the period. Glenmede Trust Co. NA lifted its position in Royal Bank of Canada by 5.5% during the third quarter. Glenmede Trust Co. NA now owns 3,157 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 165 shares in the last quarter. Bridgewater Associates LP grew its holdings in Royal Bank of Canada by 150.7% during the third quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after purchasing an additional 44,494 shares during the period. Finally, Townsquare Capital LLC increased its position in Royal Bank of Canada by 21.1% in the third quarter. Townsquare Capital LLC now owns 20,030 shares of the financial services provider’s stock worth $2,498,000 after buying an additional 3,496 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RY. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. BMO Capital Markets upped their target price on shares of 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, TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $125.27 on Thursday. The firm has a market cap of $177.09 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 1.92 and a beta of 0.86. The firm has a fifty day moving average price of $123.49 and a 200 day moving average price of $115.11. Royal Bank of Canada has a fifty-two week low of $85.02 and a fifty-two week high of $126.96. 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 (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. As a group, sell-side analysts expect that Royal Bank of Canada will post 8.37 earnings per share 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.