Algert Global LLC Makes New $706,000 Investment in Royal Bank of Canada (NYSE:RY)

Algert Global LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,651 shares of the financial services provider's stock, valued at approximately $706,000.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Royal Bank of Canada during the 3rd quarter worth about $25,000. Ridgewood Investments LLC acquired a new stake in shares of Royal Bank of Canada during the 2nd quarter worth approximately $27,000. Grove Bank & Trust bought a new stake in shares of Royal Bank of Canada during the third quarter worth approximately $28,000. Whittier Trust Co. of Nevada Inc. lifted 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 buying an additional 118 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Royal Bank of Canada in the second quarter valued at approximately $33,000. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Trading Up 0.3 %

Royal Bank of Canada stock traded up $0.40 during mid-day trading on Friday, hitting $125.67. 256,739 shares of the company's stock were exchanged, compared to its average volume of 1,091,148. The company's 50 day simple moving average is $123.61 and its 200-day simple moving average is $115.33. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $177.66 billion, a P/E ratio of 15.20, a PEG ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a fifty-two week low of $88.49 and a fifty-two week high of $126.96.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. On average, equities analysts anticipate that Royal Bank of Canada will post 8.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on RY shares. BMO Capital Markets upped their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. Barclays upgraded Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a report on Thursday, November 21st. Finally, TD Securities cut Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $142.50.

About Royal Bank of Canada

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.