Royal Bank of Canada (NYSE:RY) Shares Purchased by Glenmede Trust Co. NA

Glenmede Trust Co. NA boosted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,157 shares of the financial services provider’s stock after buying an additional 165 shares during the quarter. Glenmede Trust Co. NA’s holdings in Royal Bank of Canada were worth $394,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RY. Capital Performance Advisors LLP acquired a new stake in Royal Bank of Canada in the third quarter valued at $25,000. Larson Financial Group LLC acquired a new stake in Royal Bank of Canada in the third quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in Royal Bank of Canada in the second quarter valued at $27,000. Grove Bank & Trust acquired a new stake in Royal Bank of Canada in the third quarter valued at $28,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 118 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

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

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at $125.35 on Thursday. The stock has a 50-day simple moving average of $123.71 and a 200 day simple moving average of $115.80. 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 has a 12-month low of $90.71 and a 12-month high of $128.04. The stock has a market capitalization of $177.20 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 1.85 and a beta of 0.86.

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.