Trading Report: Today, Royal Bank Of Canada (RY) Position Increased by Alta Capital Management LLC

Today, Royal Bank Of Canada (RY) Position Increased by Alta Capital Management LLC

Alta Capital Management LLC raised its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 6.8% during the third quarter, Holdings Channel reports. The fund owned 21,691 shares of the company’s stock after buying an additional 1,379 shares during the period. Alta Capital Management LLC’s holdings in Royal Bank Of Canada were worth $1,342,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Logan Capital Management Inc. boosted its stake in shares of Royal Bank Of Canada by 5.5% in the first quarter. Logan Capital Management Inc. now owns 11,883 shares of the company’s stock valued at $684,000 after buying an additional 620 shares in the last quarter. Nexus Investment Management Inc. boosted its stake in shares of Royal Bank Of Canada by 0.5% in the second quarter. Nexus Investment Management Inc. now owns 458,369 shares of the company’s stock valued at $26,898,000 after buying an additional 2,100 shares in the last quarter. Triangle Securities Wealth Management boosted its stake in shares of Royal Bank Of Canada by 19.8% in the second quarter. Triangle Securities Wealth Management now owns 8,751 shares of the company’s stock valued at $517,000 after buying an additional 1,449 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Royal Bank Of Canada by 0.8% in the second quarter. Gulf International Bank UK Ltd now owns 449,339 shares of the company’s stock valued at $26,429,000 after buying an additional 3,500 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its stake in shares of Royal Bank Of Canada by 20.9% in the second quarter. Franklin Street Advisors Inc. NC now owns 25,308 shares of the company’s stock valued at $1,495,000 after buying an additional 4,380 shares in the last quarter. 46.05% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada (NYSE:RY) traded down 0.06% during midday trading on Monday, reaching $66.49. 757,195 shares of the company’s stock traded hands. Royal Bank Of Canada has a 1-year low of $44.37 and a 1-year high of $67.07. The firm has a market cap of $98.66 billion, a price-to-earnings ratio of 13.08 and a beta of 1.19. The stock’s 50 day moving average price is $63.40 and its 200 day moving average price is $61.72.

Several analysts have recently commented on the stock. TD Securities raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Monday, November 21st. Zacks Investment Research cut shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, November 12th. Credit Suisse Group AG reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, November 14th. BMO Capital Markets reissued a “hold” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 25th. Finally, Argus reissued a “buy” rating and set a $71.00 price target (up from $69.00) on shares of Royal Bank Of Canada in a research note on Thursday, August 25th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $83.70.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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