Fisher Asset Management LLC Acquires 106,534 Shares of Royal Bank of Canada (NYSE:RY)

Fisher Asset Management LLC boosted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 34.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 411,904 shares of the financial services provider’s stock after buying an additional 106,534 shares during the quarter. Fisher Asset Management LLC’s holdings in Royal Bank of Canada were worth $51,377,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. National Bank of Canada FI raised its stake in Royal Bank of Canada by 16.7% in the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock valued at $2,141,681,000 after acquiring an additional 2,901,033 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Royal Bank of Canada in the third quarter valued at $153,217,000. MUFG Securities EMEA plc bought a new position in shares of Royal Bank of Canada in the second quarter valued at about $29,254,000. The Manufacturers Life Insurance Company lifted its stake in shares of Royal Bank of Canada by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock worth $1,289,274,000 after buying an additional 256,023 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Royal Bank of Canada by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after buying an additional 190,341 shares during the period. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

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

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $124.15 on Wednesday. The firm has a market cap of $175.51 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.93 and a beta of 0.86. 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 stock’s fifty day moving average price is $123.44 and its two-hundred day moving average price is $115.04. Royal Bank of Canada has a one year low of $85.02 and a one year high of $126.96.

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, topping analysts’ consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The company had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. As a group, research 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.