Royal Bank of Canada (NYSE:RY) Upgraded to Hold at StockNews.com

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Friday.

RY has been the topic of a number of other research reports. Barclays upgraded 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 lowered shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Finally, BMO Capital Markets cut their target price on Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.50.

Royal Bank of Canada Stock Up 0.8 %

Shares of NYSE RY traded up $1.00 during mid-day trading on Friday, hitting $120.72. 665,300 shares of the stock traded hands, compared to its average volume of 1,079,056. The stock has a fifty day moving average price of $124.00 and a 200-day moving average price of $117.24. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $170.66 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a 52 week low of $93.97 and a 52 week high of $128.05.

Institutional Trading of Royal Bank of Canada

Several hedge funds have recently modified their holdings of RY. FMR LLC grew its position in Royal Bank of Canada by 75.8% in the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider's stock worth $2,229,834,000 after acquiring an additional 7,702,585 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Royal Bank of Canada by 16.7% in the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider's stock worth $2,141,681,000 after purchasing an additional 2,901,033 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Royal Bank of Canada by 165.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider's stock worth $361,532,000 after purchasing an additional 1,804,022 shares during the period. International Assets Investment Management LLC bought a new position in shares of Royal Bank of Canada during the 3rd quarter valued at approximately $153,217,000. Finally, Geode Capital Management LLC raised its holdings in Royal Bank of Canada by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider's stock valued at $805,616,000 after buying an additional 541,760 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

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.

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