Jones Financial Companies Lllp Has $483,000 Position in Royal Bank of Canada (NYSE:RY)

Jones Financial Companies Lllp raised its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 1,322.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,010 shares of the financial services provider's stock after buying an additional 3,728 shares during the period. Jones Financial Companies Lllp's holdings in Royal Bank of Canada were worth $483,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of RY. Capital Performance Advisors LLP purchased a new position in Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Dunhill Financial LLC purchased a new position in Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada during the 3rd quarter worth approximately $26,000. Roxbury Financial LLC purchased a new position in Royal Bank of Canada during the 4th quarter worth approximately $29,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new position in Royal Bank of Canada during the 4th quarter worth approximately $36,000. Institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RY. Barclays upgraded shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research report on Thursday, November 21st. StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. TD Securities cut shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. CIBC restated a "neutral" rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Finally, BMO Capital Markets lowered 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. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of "Moderate Buy" and a consensus target price of $156.50.

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Royal Bank of Canada Stock Down 2.2 %

NYSE:RY traded down $2.40 during trading hours on Thursday, reaching $108.88. The company's stock had a trading volume of 2,254,515 shares, compared to its average volume of 1,006,645. The company has a market cap of $153.99 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05. The business's 50-day moving average is $118.79 and its 200-day moving average is $121.51. 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 company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio 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.