JPMorgan Chase & Co. Sells 151,827 Shares of Royal Bank of Canada (NYSE:RY)

JPMorgan Chase & Co. trimmed its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,186,681 shares of the financial services provider’s stock after selling 151,827 shares during the period. JPMorgan Chase & Co.’s holdings in Royal Bank of Canada were worth $745,557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Mufg Securities Canada LTD. grew its position in shares of Royal Bank of Canada by 72.0% during the 4th quarter. Mufg Securities Canada LTD. now owns 2,160,865 shares of the financial services provider’s stock valued at $260,373,000 after acquiring an additional 904,909 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in Royal Bank of Canada during the fourth quarter valued at $50,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Royal Bank of Canada by 450.0% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 48,400 shares of the financial services provider’s stock valued at $5,846,000 after buying an additional 39,600 shares during the period. GQG Partners LLC lifted its position in shares of Royal Bank of Canada by 0.9% during the 4th quarter. GQG Partners LLC now owns 5,796,767 shares of the financial services provider’s stock valued at $698,579,000 after buying an additional 51,277 shares during the last quarter. Finally, Congress Wealth Management LLC DE purchased a new stake in Royal Bank of Canada in the 4th quarter worth about $255,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $112.04 on Friday. The firm has a market capitalization of $158.17 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.80 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock’s 50-day simple moving average is $117.43 and its two-hundred day simple moving average is $121.05. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.66%. Royal Bank of Canada’s dividend payout ratio is presently 45.96%.

Analyst Ratings Changes

Several research firms have recently weighed in on RY. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. BMO Capital Markets dropped their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.