Royal Bank Of Canada $RY Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 13.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,334,440 shares of the financial services provider’s stock after selling 961,781 shares during the period. JPMorgan Chase & Co. owned 0.45% of Royal Bank Of Canada worth $1,079,959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RY. Norges Bank acquired a new stake in shares of Royal Bank Of Canada during the 4th quarter worth about $3,472,382,000. Canerector Inc. raised its position in shares of Royal Bank Of Canada by 20,412.0% during the 3rd quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock worth $1,964,188,000 after acquiring an additional 13,267,800 shares in the last quarter. Quadrature Capital Ltd raised its position in shares of Royal Bank Of Canada by 603.1% during the 3rd quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider’s stock worth $257,183,000 after acquiring an additional 1,498,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Royal Bank Of Canada by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock worth $9,777,472,000 after acquiring an additional 1,329,637 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Royal Bank Of Canada by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock worth $2,389,773,000 after acquiring an additional 882,253 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analysts Set New Price Targets

RY has been the topic of several research analyst reports. Weiss Ratings raised Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Finally, Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Trading Up 1.3%

RY opened at $197.90 on Wednesday. The firm has a market cap of $275.03 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.54 and a beta of 0.81. Royal Bank Of Canada has a 52 week low of $126.02 and a 52 week high of $198.57. The business’s 50 day moving average is $179.85 and its two-hundred day moving average is $170.86. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09.

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

Royal Bank Of Canada Increases Dividend

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

Royal Bank Of Canada 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.