Transamerica Financial Advisors Inc. Raises Holdings in Royal Bank of Canada (NYSE:RY)

Transamerica Financial Advisors Inc. lifted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2,644.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,482 shares of the financial services provider’s stock after purchasing an additional 1,428 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Royal Bank of Canada were worth $185,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RY. Capital Performance Advisors LLP purchased a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC purchased a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new stake in Royal Bank of Canada in the 2nd quarter worth approximately $27,000. Grove Bank & Trust purchased a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $28,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Royal Bank of Canada by 110.3% in the 3rd 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 period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Up 0.9 %

Shares of RY opened at $125.27 on Thursday. The firm has a market cap 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. The company’s fifty day moving average is $123.49 and its two-hundred day moving average is $115.11. Royal Bank of Canada has a fifty-two week low of $85.02 and a fifty-two week high of $126.96. 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 announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. The company had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Analysts forecast that Royal Bank of Canada will post 8.37 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. 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. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets lifted their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus target price of $142.50.

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.