DRW Securities LLC Lowers Holdings in Royal Bank of Canada (NYSE:RY)

DRW Securities LLC lowered its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 29.8% in the third quarter, Holdings Channel reports. The institutional investor owned 3,383 shares of the financial services provider’s stock after selling 1,435 shares during the period. DRW Securities LLC’s holdings in Royal Bank of Canada were worth $422,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in RY. National Bank of Canada FI increased its stake in shares of Royal Bank of Canada by 16.7% during the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $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 Royal Bank of Canada during the 3rd quarter worth approximately $153,217,000. MUFG Securities EMEA plc purchased a new position in shares of Royal Bank of Canada during the 2nd quarter worth approximately $29,254,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Royal Bank of Canada by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock valued at $1,289,274,000 after buying an additional 256,023 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Royal Bank of Canada by 1.8% in the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after buying an additional 190,341 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

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

Royal Bank of Canada Stock Down 0.1 %

RY stock opened at $124.15 on Wednesday. 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’s 50 day simple moving average is $123.44 and its 200-day simple moving average is $115.04. Royal Bank of Canada has a 12 month low of $85.02 and a 12 month high of $126.96. The firm has a market capitalization of $175.51 billion, a PE ratio of 15.01, a P/E/G ratio of 1.92 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.40 billion. Equities analysts expect that Royal Bank of Canada will post 8.37 earnings per share 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.