Intech Investment Management LLC Increases Stock Position in Royal Bank Of Canada $RY

by · The Cerbat Gem

Intech Investment Management LLC lifted its stake in Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 28.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 163,054 shares of the financial services provider’s stock after acquiring an additional 36,301 shares during the quarter. Intech Investment Management LLC’s holdings in Royal Bank Of Canada were worth $21,446,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RY. Cetera Investment Advisers boosted its position in shares of Royal Bank Of Canada by 20.7% during the second quarter. Cetera Investment Advisers now owns 53,817 shares of the financial services provider’s stock worth $7,080,000 after buying an additional 9,212 shares during the period. Creative Planning increased its stake in Royal Bank Of Canada by 10.5% during the second quarter. Creative Planning now owns 247,393 shares of the financial services provider’s stock worth $32,544,000 after purchasing an additional 23,433 shares during the period. Advisory Resource Group lifted its position in shares of Royal Bank Of Canada by 2.1% during the second quarter. Advisory Resource Group now owns 9,035 shares of the financial services provider’s stock worth $1,189,000 after purchasing an additional 186 shares in the last quarter. WealthShield Partners LLC acquired a new stake in shares of Royal Bank Of Canada during the second quarter worth about $206,000. Finally, Empower Advisory Group LLC boosted its stake in shares of Royal Bank Of Canada by 9.3% in the second quarter. Empower Advisory Group LLC now owns 2,038 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Down 0.2%

Shares of Royal Bank Of Canada stock opened at $146.50 on Friday. The company has a market cap of $205.63 billion, a P/E ratio of 15.47, a PEG ratio of 1.48 and a beta of 0.86. The firm has a fifty day moving average of $146.35 and a two-hundred day moving average of $136.07. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $149.44.

Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last announced its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 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 firm had revenue of $12.26 billion during the quarter, compared to the consensus estimate of $16.03 billion. During the same quarter last year, the firm earned $3.26 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year. On average, analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Wall Street Zen raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. National Bankshares reiterated a “sector perform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Finally, Cowen reiterated a “hold” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.50.

Check Out Our Latest Analysis on Royal Bank Of Canada

Royal Bank Of Canada Company Profile

(Free Report)

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.

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