Northwest & Ethical Investments L.P. Has $53.55 Million Stock Position in Royal Bank of Canada (NYSE:RY)

Northwest & Ethical Investments L.P. decreased its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 429,016 shares of the financial services provider’s stock after selling 48,357 shares during the quarter. Royal Bank of Canada comprises approximately 1.4% of Northwest & Ethical Investments L.P.’s investment portfolio, making the stock its 7th biggest holding. Northwest & Ethical Investments L.P.’s holdings in Royal Bank of Canada were worth $53,551,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

RY has been the subject of a number of research reports. BMO Capital Markets increased their target price 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. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Stock Up 0.9 %

NYSE:RY traded up $1.12 on Thursday, hitting $125.27. 1,399,717 shares of the company’s stock were exchanged, compared to its average volume of 1,094,776. The firm has a 50-day moving average price of $123.49 and a 200-day moving average price of $115.11. Royal Bank of Canada has a 52 week low of $85.02 and a 52 week high of $126.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $177.09 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results 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 firm had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. As a group, analysts expect that Royal Bank of Canada will post 8.37 EPS for the current fiscal year.

About Royal Bank of Canada

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.