Alliancebernstein L.P. Has $96.58 Million Holdings in Royal Bank of Canada (RY)

Alliancebernstein L.P. raised its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 27.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,204,379 shares of the financial services provider’s stock after acquiring an additional 257,664 shares during the period. Alliancebernstein L.P.’s holdings in Royal Bank of Canada were worth $96,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Toronto Dominion Bank raised its stake in shares of Royal Bank of Canada by 2.1% during the third quarter. Toronto Dominion Bank now owns 20,298,238 shares of the financial services provider’s stock valued at $1,627,944,000 after acquiring an additional 411,614 shares during the last quarter. Beutel Goodman & Co Ltd. raised its stake in shares of Royal Bank of Canada by 2.5% during the second quarter. Beutel Goodman & Co Ltd. now owns 18,504,183 shares of the financial services provider’s stock valued at $1,393,575,000 after acquiring an additional 443,292 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Royal Bank of Canada by 0.4% during the second quarter. Great West Life Assurance Co. Can now owns 12,819,314 shares of the financial services provider’s stock valued at $968,329,000 after acquiring an additional 45,276 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of Royal Bank of Canada by 3.3% during the second quarter. Bank of Nova Scotia now owns 11,034,045 shares of the financial services provider’s stock valued at $830,067,000 after acquiring an additional 357,200 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Royal Bank of Canada by 13.4% during the third quarter. Acadian Asset Management LLC now owns 8,215,637 shares of the financial services provider’s stock valued at $658,089,000 after acquiring an additional 969,700 shares during the last quarter. Institutional investors and hedge funds own 40.36% of the company’s stock.

Several equities analysts have recently commented on the stock. ValuEngine raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Scotia Howard Weill raised shares of Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, September 10th. Howard Weil raised shares of Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, September 10th. Scotiabank raised shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 10th. Finally, Zacks Investment Research downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Royal Bank of Canada has an average rating of “Hold” and a consensus target price of $96.25.

RY stock opened at $72.39 on Friday. Royal Bank of Canada has a 1 year low of $69.99 and a 1 year high of $87.10. The stock has a market capitalization of $101.36 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.33 and a beta of 1.14. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.13.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 22nd. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. Royal Bank of Canada had a net margin of 21.48% and a return on equity of 18.11%. The company had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.39 billion. On average, equities analysts anticipate that Royal Bank of Canada will post 6.47 earnings per share for the current fiscal year.

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Royal Bank of Canada Profile

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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