JARISLOWSKY FRASER Ltd Has $229.44 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

JARISLOWSKY FRASER Ltd cut its holdings in Royal Bank of Canada (NYSE:RYFree Report) (TSE:RY) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,257,807 shares of the financial services provider’s stock after selling 4,147 shares during the quarter. Royal Bank of Canada makes up 1.3% of JARISLOWSKY FRASER Ltd’s portfolio, making the stock its 25th largest position. JARISLOWSKY FRASER Ltd owned 0.16% of Royal Bank of Canada worth $229,442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RY. Banque Cantonale Vaudoise acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at $26,000. First Horizon Advisors Inc. increased its position in Royal Bank of Canada by 64.7% in the fourth quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 185 shares during the period. Addison Advisors LLC increased its position in Royal Bank of Canada by 131.0% in the fourth quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 300 shares during the period. Heritage Wealth Advisors acquired a new stake in Royal Bank of Canada in the fourth quarter worth about $61,000. Finally, EverSource Wealth Advisors LLC increased its position in Royal Bank of Canada by 192.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 716 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 471 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Trading Up 0.7 %

RY traded up $0.69 during midday trading on Monday, reaching $105.30. 862,600 shares of the company were exchanged, compared to its average volume of 1,162,488. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. Royal Bank of Canada has a one year low of $77.90 and a one year high of $107.19. The stock has a market capitalization of $148.97 billion, a P/E ratio of 13.26, a PEG ratio of 1.69 and a beta of 0.86. The stock’s 50-day simple moving average is $100.90 and its 200 day simple moving average is $97.78.

Royal Bank of Canada (NYSE:RYGet Free Report) (TSE:RY) last issued its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. The firm had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $10.10 billion. As a group, analysts forecast that Royal Bank of Canada will post 8.51 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Thursday, April 25th were issued a dividend of $1.0207 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Wednesday, April 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s payout ratio is 51.39%.

Analysts Set New Price Targets

A number of brokerages recently commented on RY. Jefferies Financial Group upgraded Royal Bank of Canada from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $140.00 to $150.00 in a research report on Friday, April 5th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Barclays began coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Finally, Scotiabank upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.67.

Check Out Our Latest Research Report on Royal Bank of Canada

Royal Bank of Canada Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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