UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Position in Royal Bank of Canada (NYSE:RY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,808,197 shares of the financial services provider’s stock after selling 203,351 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.13% of Royal Bank of Canada worth $225,536,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Royal Bank of Canada during the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada in the third quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 118 shares during the period. Grove Bank & Trust purchased a new stake in shares of Royal Bank of Canada during the 3rd quarter worth about $28,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Royal Bank of Canada during the 2nd quarter worth about $27,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Up 0.3 %

Shares of RY opened at $125.67 on Friday. Royal Bank of Canada has a one year low of $88.49 and a one year high of $126.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50 day moving average price of $123.61 and a 200 day moving average price of $115.33. The stock has a market capitalization of $177.66 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its 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. The business had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. Equities research analysts forecast that Royal Bank of Canada will post 8.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.