Kingsview Wealth Management LLC Purchases 127 Shares of Royal Bank of Canada (NYSE:RY)

Kingsview Wealth Management LLC increased its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,423 shares of the financial services provider’s stock after buying an additional 127 shares during the period. Kingsview Wealth Management LLC’s holdings in Royal Bank of Canada were worth $427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Royal Bank of Canada during the 3rd quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Royal Bank of Canada by 110.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares in the last quarter. Grove Bank & Trust acquired a new stake in Royal Bank of Canada during the third quarter worth approximately $28,000. Ridgewood Investments LLC bought a new stake in Royal Bank of Canada in the second quarter worth approximately $27,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Royal Bank of Canada in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on RY shares. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, BMO Capital Markets increased their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada has an average rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $125.27 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $123.53 and a two-hundred day simple moving average of $115.18. Royal Bank of Canada has a 12 month low of $85.02 and a 12 month high of $126.96. The firm has a market capitalization of $177.09 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The company had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Analysts forecast that Royal Bank of Canada will post 8.37 EPS for the current fiscal 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.