Erste Asset Management GmbH Invests $8.77 Million in Royal Bank of Canada (NYSE:RY)

Erste Asset Management GmbH bought a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 3rd quarter, Holdings Channel reports. The fund bought 70,600 shares of the financial services provider’s stock, valued at approximately $8,771,000.

Other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers increased its holdings in Royal Bank of Canada by 390.4% during the 1st quarter. Cetera Investment Advisers now owns 25,057 shares of the financial services provider’s stock worth $2,528,000 after purchasing an additional 19,948 shares during the last quarter. Cetera Advisors LLC increased its stake in shares of Royal Bank of Canada by 125.1% in the first quarter. Cetera Advisors LLC now owns 4,558 shares of the financial services provider’s stock worth $460,000 after buying an additional 2,533 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Royal Bank of Canada by 52.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,088 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 372 shares in the last quarter. Transcend Capital Advisors LLC boosted its stake in Royal Bank of Canada by 6.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 2,322 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 136 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Royal Bank of Canada by 38.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,070 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 298 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RY. BMO Capital Markets increased their price target 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. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One 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 MarketBeat.com, 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 Up 0.3 %

NYSE:RY opened at $125.67 on Monday. 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 stock has a 50 day moving average of $123.61 and a 200-day moving average of $115.48. The firm has a market capitalization of $177.66 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a 52 week low of $88.49 and a 52 week high of $126.96.

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.