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

JPMorgan Chase & Co. lessened its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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. owned about 0.44% of Royal Bank of Canada worth $745,557,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Royal Bank of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock worth $7,136,056,000 after acquiring an additional 1,104,975 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Royal Bank of Canada by 9.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock worth $1,338,156,000 after purchasing an additional 921,276 shares during the last quarter. Mufg Securities Canada LTD. increased its stake in shares of Royal Bank of Canada by 72.0% in the fourth quarter. Mufg Securities Canada LTD. now owns 2,160,865 shares of the financial services provider's stock valued at $260,373,000 after buying an additional 904,909 shares during the period. Hillsdale Investment Management Inc. raised its holdings in Royal Bank of Canada by 360.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 881,128 shares of the financial services provider's stock valued at $106,123,000 after buying an additional 689,904 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in Royal Bank of Canada in the 4th quarter valued at approximately $70,429,000. Institutional investors and hedge funds own 45.31% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RY shares. BMO Capital Markets cut their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, CIBC restated a "neutral" rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $156.50.

Royal Bank of Canada Trading Up 0.5 %

Shares of Royal Bank of Canada stock traded up $0.52 on Monday, hitting $112.66. 840,031 shares of the company's stock traded hands, compared to its average volume of 1,062,181. The company has a fifty day moving average of $117.43 and a two-hundred day moving average of $121.03. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05. The company has a market capitalization of $159.04 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is 45.96%.

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.