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

Kingsview Wealth Management LLC raised its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,423 shares of the financial services provider’s stock after buying an additional 127 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Royal Bank of Canada were worth $427,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Royal Bank of Canada in the third quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of 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 worth $28,000 after acquiring an additional 118 shares during the last quarter. Grove Bank & Trust acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $28,000. Ridgewood Investments LLC bought a new stake in shares of Royal Bank of Canada during the 2nd quarter valued at approximately $27,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Royal Bank of Canada during the 2nd quarter worth approximately $33,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Royal Bank of Canada Price Performance

RY stock opened at $125.27 on Friday. The company has a market capitalization of $177.09 billion, a P/E ratio of 15.15, a PEG ratio of 1.92 and a beta of 0.86. The company has a fifty day moving average price of $123.53 and a 200-day moving average price of $115.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. Royal Bank of Canada has a 52-week low of $85.02 and a 52-week high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. As a group, equities analysts expect that Royal Bank of Canada will post 8.37 EPS for the current year.

Royal Bank of Canada 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.