Fisher Asset Management LLC Acquires 106,534 Shares of Royal Bank of Canada (NYSE:RY)

Fisher Asset Management LLC increased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 34.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 411,904 shares of the financial services provider’s stock after buying an additional 106,534 shares during the quarter. Fisher Asset Management LLC’s holdings in Royal Bank of Canada were worth $51,377,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Addison Advisors LLC lifted its holdings in shares of Royal Bank of Canada by 9.5% in the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 82 shares during the last quarter. Mount Yale Investment Advisors LLC increased its position in Royal Bank of Canada by 1.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 92 shares in the last quarter. Drive Wealth Management LLC lifted its stake in Royal Bank of Canada by 3.4% in the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 92 shares during the last quarter. Private Advisor Group LLC boosted its position in Royal Bank of Canada by 1.6% in the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after buying an additional 95 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in Royal Bank of Canada by 1.9% in the second quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock valued at $562,000 after buying an additional 100 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RY. BMO Capital Markets increased their price target on 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. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Stock Performance

NYSE RY opened at $124.15 on Wednesday. The company has a market capitalization of $175.51 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.93 and a beta of 0.86. Royal Bank of Canada has a twelve month low of $85.02 and a twelve month high of $126.96. The stock has a fifty day simple moving average of $123.44 and a 200 day simple moving average of $115.04. 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 data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The company had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Sell-side analysts expect that Royal Bank of Canada will post 8.37 EPS for the current year.

Royal Bank of Canada Company 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.