Royal Bank of Canada (NYSE:RY) Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 165.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,896,755 shares of the financial services provider’s stock after acquiring an additional 1,804,022 shares during the period. Royal Bank of Canada comprises about 0.9% of Healthcare of Ontario Pension Plan Trust Fund’s investment portfolio, making the stock its 20th biggest holding. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.20% of Royal Bank of Canada worth $361,532,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Addison Advisors LLC grew its position in Royal Bank of Canada by 9.5% during the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 82 shares in the last quarter. Mount Yale Investment Advisors LLC increased its holdings in shares of Royal Bank of Canada by 1.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 92 shares during the period. Drive Wealth Management LLC increased its holdings in shares of Royal Bank of Canada by 3.4% during the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 92 shares during the period. Private Advisor Group LLC increased its stake in Royal Bank of Canada by 1.6% in the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after acquiring an additional 95 shares during the period. Finally, HB Wealth Management LLC increased its stake in Royal Bank of Canada by 1.9% in the second quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 100 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RY. 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. BMO Capital Markets upped their target price on shares of 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. Finally, TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $124.15 on Wednesday. The firm has a 50 day moving average of $123.44 and a 200-day moving average of $115.04. The stock has a market capitalization of $175.51 billion, a PE ratio of 15.01, a PEG ratio of 1.92 and a beta of 0.86. Royal Bank of Canada has a 12 month low of $85.02 and a 12 month high of $126.96. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $10.40 billion. On average, equities research analysts predict that Royal Bank of Canada will post 8.37 EPS for the current fiscal year.

Royal Bank of Canada Profile

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.