Geode Capital Management LLC Increases Stake in Royal Bank Of Canada $RY

Geode Capital Management LLC raised its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,741,480 shares of the financial services provider’s stock after buying an additional 882,253 shares during the quarter. Geode Capital Management LLC owned about 0.98% of Royal Bank Of Canada worth $2,389,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Flputnam Investment Management Co. grew its holdings in Royal Bank Of Canada by 14.9% during the 4th quarter. Flputnam Investment Management Co. now owns 1,576 shares of the financial services provider’s stock valued at $269,000 after buying an additional 204 shares in the last quarter. Integrity Alliance LLC. grew its holdings in Royal Bank Of Canada by 15.4% during the 4th quarter. Integrity Alliance LLC. now owns 1,996 shares of the financial services provider’s stock valued at $340,000 after buying an additional 266 shares in the last quarter. Cary Street Partners Financial LLC grew its holdings in Royal Bank Of Canada by 12.0% during the 4th quarter. Cary Street Partners Financial LLC now owns 22,101 shares of the financial services provider’s stock valued at $3,768,000 after buying an additional 2,369 shares in the last quarter. Wellington Shields & Co. LLC purchased a new stake in Royal Bank Of Canada during the 4th quarter valued at approximately $260,000. Finally, Themes Management Co LLC purchased a new stake in Royal Bank Of Canada during the 4th quarter valued at approximately $951,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Down 0.5%

Shares of NYSE RY opened at $188.98 on Thursday. The firm’s 50-day moving average price is $174.22 and its 200-day moving average price is $168.00. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $264.13 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.49 and a beta of 0.80. Royal Bank Of Canada has a 12-month low of $124.19 and a 12-month high of $191.51.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.13. The firm had revenue of $13.18 billion for the quarter, compared to analysts’ expectations of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.62 EPS. On average, equities research analysts anticipate that Royal Bank Of Canada will post 11.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of recent research reports. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, May 4th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Zacks Research cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.