Public Sector Pension Investment Board Has $23.16 Million Holdings in Royal Bank of Canada (NYSE:RY)

Public Sector Pension Investment Board lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.3% during the third quarter, Holdings Channel.com reports. The firm owned 185,374 shares of the financial services provider’s stock after buying an additional 575 shares during the period. Public Sector Pension Investment Board’s holdings in Royal Bank of Canada were worth $23,162,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Advisors Asset Management Inc. lifted its position in Royal Bank of Canada by 29.0% during the 1st quarter. Advisors Asset Management Inc. now owns 2,953 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 664 shares during the period. Virtu Financial LLC boosted its stake in Royal Bank of Canada by 50.6% in the first quarter. Virtu Financial LLC now owns 4,113 shares of the financial services provider’s stock valued at $415,000 after acquiring an additional 1,382 shares during the last quarter. Cetera Investment Advisers boosted its stake in Royal Bank of Canada by 390.4% in the first quarter. Cetera Investment Advisers now owns 25,057 shares of the financial services provider’s stock valued at $2,528,000 after acquiring an additional 19,948 shares during the last quarter. Cetera Advisors LLC grew its holdings in Royal Bank of Canada by 125.1% during the 1st quarter. Cetera Advisors LLC now owns 4,558 shares of the financial services provider’s stock worth $460,000 after acquiring an additional 2,533 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Royal Bank of Canada in the 1st quarter valued at $776,000. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Stock Up 0.9 %

Shares of RY stock opened at $125.27 on Thursday. The company has a market capitalization of $177.09 billion, a price-to-earnings ratio of 15.15, a P/E/G 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 firm has a fifty day moving average of $123.49 and a 200-day moving average of $115.11. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued 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 net margin of 12.28% and a return on equity of 15.17%. The company had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $10.40 billion. As a group, equities research analysts predict that Royal Bank of Canada will post 8.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. 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, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from 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.