Ontario Teachers Pension Plan Board Invests $875,000 in Royal Bank of Canada (NYSE:RY)

Ontario Teachers Pension Plan Board purchased a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,112 shares of the financial services provider’s stock, valued at approximately $875,000.

Several other institutional investors and hedge funds have also modified their holdings of RY. Janney Montgomery Scott LLC grew its stake in shares of Royal Bank of Canada by 3.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 60,528 shares of the financial services provider’s stock worth $4,794,000 after acquiring an additional 2,190 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Royal Bank of Canada during the 4th quarter worth approximately $282,000. J.W. Cole Advisors Inc. bought a new position in shares of Royal Bank of Canada during the 4th quarter worth approximately $526,000. Advisor Partners LLC grew its stake in shares of Royal Bank of Canada by 11.8% during the 4th quarter. Advisor Partners LLC now owns 16,190 shares of the financial services provider’s stock worth $1,307,000 after acquiring an additional 1,715 shares in the last quarter. Finally, First American Bank acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at approximately $2,476,000. 41.46% of the stock is owned by institutional investors.

Shares of Royal Bank of Canada stock opened at $59.98 on Friday. The business has a fifty day simple moving average of $60.51 and a two-hundred day simple moving average of $72.93. Royal Bank of Canada has a 1 year low of $49.55 and a 1 year high of $82.74. The company has a market capitalization of $85.37 billion, a price-to-earnings ratio of 8.85, a P/E/G ratio of 2.15 and a beta of 0.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.91.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, February 20th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.12. Royal Bank of Canada had a return on equity of 17.32% and a net margin of 19.36%. The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.08 billion. As a group, equities analysts anticipate that Royal Bank of Canada will post 5.39 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on RY shares. Scotiabank cut their price objective on Royal Bank of Canada from $99.00 to $97.00 and set an “outperform” rating for the company in a report on Friday. Credit Suisse Group increased their price objective on Royal Bank of Canada from $111.00 to $112.00 and gave the company an “outperform” rating in a report on Monday, February 24th. Zacks Investment Research raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, May 15th. Bank of America increased their price objective on Royal Bank of Canada from $70.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Barclays cut their price objective on Royal Bank of Canada from $81.00 to $80.00 and set an “underweight” rating for the company in a report on Monday, May 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $97.50.

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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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