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

Erste Asset Management GmbH bought a new stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 70,600 shares of the financial services provider's stock, valued at approximately $8,771,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Edgestream Partners L.P. bought a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $352,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in Royal Bank of Canada by 18.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider's stock worth $291,925,000 after purchasing an additional 359,719 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Royal Bank of Canada by 4.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 239,939 shares of the financial services provider's stock worth $29,924,000 after purchasing an additional 10,362 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of Royal Bank of Canada in the 3rd quarter valued at about $62,000. Finally, Public Sector Pension Investment Board grew its holdings in Royal Bank of Canada by 0.3% during the third quarter. Public Sector Pension Investment Board now owns 185,374 shares of the financial services provider's stock worth $23,162,000 after purchasing an additional 575 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

Wall Street Analyst Weigh In

RY has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective 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. TD Securities lowered shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Finally, Barclays upgraded shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a report on Thursday, November 21st. One 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $142.50.

Royal Bank of Canada Trading Down 1.1 %

RY stock traded down $1.37 on Monday, reaching $124.30. The company's stock had a trading volume of 179,501 shares, compared to its average volume of 1,087,140. The business has a fifty day simple moving average of $123.61 and a two-hundred day simple moving average of $115.48. Royal Bank of Canada has a 12-month low of $90.21 and a 12-month high of $126.96. The firm has a market cap of $175.72 billion, a PE ratio of 15.03, a PEG ratio of 1.86 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87.

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.