JPMorgan Chase & Co. Has $745.56 Million Position in Royal Bank of Canada (NYSE:RY)

JPMorgan Chase & Co. lowered its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,186,681 shares of the financial services provider’s stock after selling 151,827 shares during the quarter. JPMorgan Chase & Co. owned 0.44% of Royal Bank of Canada worth $745,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in RY. Charles Schwab Investment Management Inc. raised its position in shares of Royal Bank of Canada by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock worth $427,589,000 after acquiring an additional 64,450 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Royal Bank of Canada in the 4th quarter valued at $60,034,000. Wealth High Governance Capital Ltda acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth $10,243,000. Algert Global LLC acquired a new position in Royal Bank of Canada in the third quarter valued at $706,000. Finally, Bridgewater Associates LP boosted its position in Royal Bank of Canada by 150.7% during the third quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after acquiring an additional 44,494 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Down 2.3 %

Shares of NYSE RY opened at $112.04 on Friday. 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 has a 1 year low of $95.84 and a 1 year high of $128.05. The stock 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 50-day moving average price of $117.43 and a 200-day moving average price of $121.05.

Royal Bank of Canada Cuts Dividend

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

Wall Street Analysts Forecast Growth

RY has been the topic of several research analyst reports. BMO Capital Markets cut 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. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Royal Bank of Canada has an average rating of “Moderate Buy” and an average target price 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.