JPMorgan Chase & Co. Lowers Stock Holdings in Royal Bank Of Canada $RY

JPMorgan Chase & Co. cut its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 13.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,334,440 shares of the financial services provider’s stock after selling 961,781 shares during the quarter. JPMorgan Chase & Co.’s holdings in Royal Bank Of Canada were worth $1,079,959,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Clearbridge Investments LLC boosted its stake in shares of Royal Bank Of Canada by 4.2% in the fourth quarter. Clearbridge Investments LLC now owns 1,415,117 shares of the financial services provider’s stock valued at $241,263,000 after buying an additional 57,201 shares in the last quarter. Syon Capital LLC boosted its stake in shares of Royal Bank Of Canada by 2.4% in the fourth quarter. Syon Capital LLC now owns 11,424 shares of the financial services provider’s stock valued at $1,948,000 after buying an additional 271 shares in the last quarter. Capital World Investors boosted its stake in shares of Royal Bank Of Canada by 2,879.7% in the fourth quarter. Capital World Investors now owns 691,838 shares of the financial services provider’s stock valued at $117,943,000 after buying an additional 668,620 shares in the last quarter. Tacita Capital Inc boosted its stake in shares of Royal Bank Of Canada by 1.3% in the fourth quarter. Tacita Capital Inc now owns 35,117 shares of the financial services provider’s stock valued at $5,990,000 after buying an additional 463 shares in the last quarter. Finally, Havemeyer Place LP purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $2,086,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on RY shares. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Finally, TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Stock Up 1.3%

RY opened at $197.90 on Wednesday. The business’s fifty day moving average is $179.85 and its two-hundred day moving average is $170.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $275.03 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.54 and a beta of 0.81. Royal Bank Of Canada has a one year low of $126.02 and a one year high of $198.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.Royal Bank Of Canada’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.12 earnings per share. Analysts anticipate that Royal Bank Of Canada will post 11.52 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 3.6%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.

Royal Bank Of Canada Company Profile

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.