Caisse DE Depot ET Placement DU Quebec Buys 359,719 Shares of Royal Bank of Canada (NYSE:RY)

Caisse DE Depot ET Placement DU Quebec raised its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 18.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,336,354 shares of the financial services provider’s stock after acquiring an additional 359,719 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.17% of Royal Bank of Canada worth $291,925,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Virtu Financial LLC raised its position in shares of Royal Bank of Canada by 50.6% during the first quarter. Virtu Financial LLC now owns 4,113 shares of the financial services provider’s stock worth $415,000 after acquiring an additional 1,382 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Royal Bank of Canada by 390.4% in the 1st quarter. Cetera Investment Advisers now owns 25,057 shares of the financial services provider’s stock valued at $2,528,000 after purchasing an additional 19,948 shares during the last quarter. Cetera Advisors LLC raised its stake in shares of Royal Bank of Canada by 125.1% during the first quarter. Cetera Advisors LLC now owns 4,558 shares of the financial services provider’s stock worth $460,000 after buying an additional 2,533 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Royal Bank of Canada by 52.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,088 shares of the financial services provider’s stock worth $105,000 after buying an additional 372 shares during the last quarter. Finally, Transcend Capital Advisors LLC lifted its holdings in Royal Bank of Canada by 6.2% in the second quarter. Transcend Capital Advisors LLC now owns 2,322 shares of the financial services provider’s stock valued at $247,000 after buying an additional 136 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RY has been the topic of a number of analyst reports. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note 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 upped their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Stock Up 0.3 %

Shares of Royal Bank of Canada stock opened at $125.67 on Friday. 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 business has a 50-day moving average of $123.61 and a two-hundred day moving average of $115.33. Royal Bank of Canada has a 1 year low of $88.49 and a 1 year high of $126.96. The company has a market capitalization of $177.66 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $10.40 billion. As a group, equities analysts predict that Royal Bank of Canada will post 8.73 EPS for the current 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.