Andra AP fonden Cuts Royal Bank Of Canada Stake
Andra AP fonden sold 7,700 shares of Royal Bank Of Canada (NYSE:RY) in the second quarter, reducing its stake by 4.9%. The fund owned 149,377 shares after the sale and had a market value of $30,917,000 at the end of the period.
The sale is part of a larger trend of institutional investors buying and selling Royal Bank Of Canada stock. Norges Bank acquired a new stake in the company worth approximately $3,472,382,000 in the fourth quarter.
Other notable buyers include Geode Capital Management LLC, which increased its position by 6.9%, and Bank of Nova Scotia, which bought a new position worth $2,549,157,000.
The stock has seen some analyst activity recently, with TD Securities reiterating a 'buy' rating and Weiss Ratings upgrading shares from a 'buy (b+)' to a 'buy (a-)'. Royal Bank Of Canada currently has an average rating of 'Moderate Buy' among analysts and a target price of $225.00.