Advisor Consultant Network Inc. acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 123,148 shares of the company’s stock, valued at approximately $7,631,000. Royal Bank Of Canada accounts for 1.1% of Advisor Consultant Network Inc.’s portfolio, making the stock its 29th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. CIBC World Markets Inc. raised its position in Royal Bank Of Canada by 0.4% in the second quarter. CIBC World Markets Inc. now owns 58,022,859 shares of the company’s stock valued at $3,428,571,000 after buying an additional 259,820 shares in the last quarter. FMR LLC raised its position in Royal Bank Of Canada by 10.6% in the second quarter. FMR LLC now owns 30,229,683 shares of the company’s stock valued at $1,786,240,000 after buying an additional 2,901,424 shares in the last quarter. Vanguard Group Inc. raised its position in Royal Bank Of Canada by 12.0% in the second quarter. Vanguard Group Inc. now owns 28,178,728 shares of the company’s stock valued at $1,665,080,000 after buying an additional 3,008,391 shares in the last quarter. Cohen & Steers Inc. bought a new position in Royal Bank Of Canada during the second quarter valued at approximately $19,755,000. Finally, Capital Research Global Investors raised its position in Royal Bank Of Canada by 1.5% in the second quarter. Capital Research Global Investors now owns 14,127,699 shares of the company’s stock valued at $834,791,000 after buying an additional 212,929 shares in the last quarter. Hedge funds and other institutional investors own 46.05% of the company’s stock.

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

Shares of Royal Bank Of Canada (NYSE:RY) traded down 2.74% during trading on Wednesday, reaching $65.21. 1,224,791 shares of the company were exchanged. Royal Bank Of Canada has a 1-year low of $44.37 and a 1-year high of $67.07. The firm has a 50-day moving average price of $63.40 and a 200-day moving average price of $61.72. The stock has a market capitalization of $96.76 billion, a P/E ratio of 12.83 and a beta of 1.19.

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Several research firms recently commented on RY. Barclays PLC reiterated an “underweight” rating and issued a $72.00 price target (up previously from $67.00) on shares of Royal Bank Of Canada in a research report on Sunday, August 21st. Argus reissued a “buy” rating and issued a $71.00 price objective (up previously from $69.00) on shares of Royal Bank Of Canada in a research note on Thursday, August 25th. Citigroup Inc. raised their price objective on shares of Royal Bank Of Canada from $88.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. Bank of America Corp. assumed coverage on shares of Royal Bank Of Canada in a research note on Tuesday, November 1st. They issued an “underperform” rating for the company. Finally, Zacks Investment Research downgraded shares of Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $83.70.

About Royal Bank Of Canada

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.

5 Day Chart for NYSE:RY

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