JPMorgan Chase & Co. Sells 598,535 Shares of Royal Bank of Canada (NYSE:RY)

JPMorgan Chase & Co. decreased its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 8.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,338,508 shares of the financial services provider's stock after selling 598,535 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.45% of Royal Bank of Canada worth $790,602,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Royal Bank of Canada during the 3rd quarter valued at $25,000. Dunhill Financial LLC purchased a new position in shares of Royal Bank of Canada in the third quarter valued at $25,000. Larson Financial Group LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at $26,000. Grove Bank & Trust purchased a new stake in Royal Bank of Canada during the 3rd quarter worth about $28,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider's stock worth $28,000 after purchasing an additional 118 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Price Performance

RY stock traded down $0.20 during midday trading on Friday, reaching $120.88. The company had a trading volume of 355,952 shares, compared to its average volume of 1,069,874. The firm has a 50-day moving average price of $123.55 and a 200-day moving average price of $117.81. The company has a market capitalization of $170.88 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a yield of 3.48%. Royal Bank of Canada's payout ratio is 52.91%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, December 20th. Barclays raised shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a report on Thursday, November 21st. 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 for the company in a report on Thursday, December 5th. Finally, TD Securities cut shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $156.50.

Royal Bank of Canada Profile

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.