William Blair Investment Management LLC Sells 1,421,835 Shares of Royal Bank Of Canada $RY

William Blair Investment Management LLC decreased its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 99.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,617 shares of the financial services provider’s stock after selling 1,421,835 shares during the period. William Blair Investment Management LLC’s holdings in Royal Bank Of Canada were worth $1,981,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Coldstream Capital Management Inc. bought a new position in shares of Royal Bank Of Canada during the fourth quarter valued at approximately $351,000. Jefferies Financial Group Inc. bought a new stake in shares of Royal Bank Of Canada during the fourth quarter valued at approximately $68,707,000. EverSource Wealth Advisors LLC increased its position in shares of Royal Bank Of Canada by 13.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,477 shares of the financial services provider’s stock valued at $934,000 after acquiring an additional 641 shares in the last quarter. Bristol Gate Capital Partners Inc. bought a new stake in shares of Royal Bank Of Canada during the fourth quarter valued at approximately $692,000. Finally, Advisory Alpha LLC bought a new stake in shares of Royal Bank Of Canada during the fourth quarter valued at approximately $207,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 0.1%

RY opened at $189.97 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. Royal Bank Of Canada has a fifty-two week low of $124.19 and a fifty-two week high of $191.51. The firm’s fifty day moving average is $173.72 and its 200 day moving average is $167.69. The stock has a market cap of $265.52 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 1.49 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The company had revenue of $13.18 billion for the quarter, compared to analysts’ expectations of $12.60 billion. During the same quarter in the previous year, the company earned $3.62 EPS. Royal Bank Of Canada’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts forecast that Royal Bank Of Canada will post 11.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

RY has been the subject of several analyst reports. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Zacks Research downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.