Royal Bank of Canada (NYSE:RY) Coverage Initiated at UBS Group

Equities researchers at UBS Group assumed coverage on shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in a research note issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating on the financial services provider’s stock.

Several other research analysts have also recently commented on the company. Argus raised their target price on Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Barclays assumed coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating for the company. BMO Capital Markets cut Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 31st. Finally, Scotiabank raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.25.

Royal Bank of Canada Trading Up 1.4 %

Shares of RY stock opened at $109.02 on Tuesday. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $109.60. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $104.15 and its two-hundred day moving average is $100.89. The company has a market cap of $154.27 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.67 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 30th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.12. The business had revenue of $10.43 billion for the quarter, compared to the consensus estimate of $9.95 billion. Royal Bank of Canada had a net margin of 12.12% and a return on equity of 14.87%. Equities analysts predict that Royal Bank of Canada will post 8.47 EPS for the current year.

Institutional Trading of Royal Bank of Canada

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RY. Shell Asset Management Co. grew its position in shares of Royal Bank of Canada by 3.8% during the 1st quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock worth $274,000 after buying an additional 100 shares during the period. Avantax Advisory Services Inc. grew its position in shares of Royal Bank of Canada by 2.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,225 shares of the financial services provider’s stock worth $527,000 after buying an additional 124 shares during the period. Cigna Investments Inc. New grew its position in shares of Royal Bank of Canada by 0.5% during the 4th quarter. Cigna Investments Inc. New now owns 26,187 shares of the financial services provider’s stock worth $2,661,000 after buying an additional 131 shares during the period. Transcend Capital Advisors LLC grew its position in shares of Royal Bank of Canada by 6.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 2,322 shares of the financial services provider’s stock worth $247,000 after buying an additional 136 shares during the period. Finally, Legacy Wealth Asset Management LLC grew its position in shares of Royal Bank of Canada by 2.5% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 5,689 shares of the financial services provider’s stock worth $574,000 after buying an additional 137 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

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.