JARISLOWSKY FRASER Ltd Has $242.62 Million Holdings in Royal Bank Of Canada $RY

JARISLOWSKY FRASER Ltd decreased its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 17.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,645,780 shares of the financial services provider’s stock after selling 337,524 shares during the quarter. Royal Bank Of Canada comprises approximately 1.3% of JARISLOWSKY FRASER Ltd’s investment portfolio, making the stock its 26th largest holding. JARISLOWSKY FRASER Ltd owned about 0.12% of Royal Bank Of Canada worth $242,620,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Signaturefd LLC grew its holdings in Royal Bank Of Canada by 3.6% in the third quarter. Signaturefd LLC now owns 29,340 shares of the financial services provider’s stock worth $4,322,000 after purchasing an additional 1,021 shares during the period. GAM Holding AG bought a new position in shares of Royal Bank Of Canada during the 3rd quarter worth about $457,000. PDS Planning Inc grew its stake in shares of Royal Bank Of Canada by 7.3% in the 3rd quarter. PDS Planning Inc now owns 5,580 shares of the financial services provider’s stock valued at $822,000 after buying an additional 381 shares during the period. Physicians Financial Services Inc. acquired a new stake in shares of Royal Bank Of Canada in the 3rd quarter valued at about $203,000. Finally, True Wealth Design LLC bought a new stake in Royal Bank Of Canada in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Erste Group Bank upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. Cibc World Mkts cut Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, September 5th. Raymond James Financial initiated coverage on shares of Royal Bank Of Canada in a research report on Monday, November 24th. They issued a “moderate buy” rating for the company. Wall Street Zen upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $170.66 on Friday. The company has a fifty day moving average price of $157.27 and a 200-day moving average price of $145.00. The firm has a market cap of $239.01 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $172.38.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $12.12 billion. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.07 EPS. As a group, equities research analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, January 26th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.8%. Royal Bank Of Canada’s dividend payout ratio (DPR) is 46.76%.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.