SteelPeak Wealth LLC Purchases Shares of 1,644 Royal Bank Of Canada $RY

SteelPeak Wealth LLC purchased a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,644 shares of the financial services provider’s stock, valued at approximately $216,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its position in Royal Bank Of Canada by 129.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider’s stock valued at $796,227,000 after buying an additional 3,990,839 shares during the last quarter. Vanguard Group Inc. raised its position in Royal Bank Of Canada by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider’s stock valued at $7,048,307,000 after buying an additional 3,387,971 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Royal Bank Of Canada by 104.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 6,346,768 shares of the financial services provider’s stock valued at $715,043,000 after purchasing an additional 3,244,266 shares during the last quarter. Bank of Nova Scotia increased its position in shares of Royal Bank Of Canada by 8.0% during the 1st quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider’s stock valued at $1,892,975,000 after purchasing an additional 1,249,589 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Royal Bank Of Canada during the 1st quarter valued at $114,327,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Up 0.2%

RY stock opened at $145.27 on Friday. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $149.26. The stock has a fifty day moving average of $141.83 and a 200-day moving average of $130.16. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $204.15 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.47 and a beta of 0.86.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $2.36 by $0.43. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The business had revenue of $12.26 billion during the quarter, compared to the consensus estimate of $16.03 billion. During the same quarter last year, the company earned $3.26 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RY. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Wall Street Zen raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Erste Group Bank raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Monday, September 22nd. Cibc World Mkts lowered Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Finally, CIBC lowered Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research report on Friday, September 5th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $177.50.

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.