JPMorgan Chase & Co. Boosts Stock Position in Royal Bank Of Canada (NYSE:RY)

Key Points

• JPMorgan Chase & Co. increased its stake in the Royal Bank Of Canada by 4.4%, now owning approximately 6.46 million shares valued at around $727.97 million.
• The Royal Bank Of Canada has recently seen conflicting analyst ratings, with it being upgraded by Scotiabank and CIBC, while others downgraded it, leading to a consensus rating of "Moderate Buy" with an average target price of $193.00.
• The bank announced a new quarterly dividend of $1.1152 per share, up from the previous $1.03, resulting in an annualized yield of 3.4%.

JPMorgan Chase & Co. boosted its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 4.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,458,212 shares of the financial services provider's stock after purchasing an additional 271,531 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.46% of Royal Bank Of Canada worth $727,970,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Park Square Financial Group LLC bought a new stake in shares of Royal Bank Of Canada in the 4th quarter valued at approximately $25,000. Sunbelt Securities Inc. increased its holdings in shares of Royal Bank Of Canada by 2,272.7% in the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 250 shares during the last quarter. Optiver Holding B.V. bought a new stake in shares of Royal Bank Of Canada in the 4th quarter valued at approximately $35,000. Transce3nd LLC bought a new position in Royal Bank Of Canada during the 4th quarter worth $37,000. Finally, Cullen Frost Bankers Inc. grew its stake in Royal Bank Of Canada by 295.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock worth $39,000 after buying an additional 257 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RY. Scotiabank began coverage on Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating for the company. CIBC restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Wall Street Zen downgraded Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. National Bank Financial downgraded Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Finally, Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $193.00.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $132.52 on Monday. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $134.26. The firm's 50-day simple moving average is $130.22 and its 200 day simple moving average is $122.33. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a market cap of $186.30 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.52 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The company had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $15.77 billion. During the same quarter in the prior year, the firm earned $2.92 earnings per share. Royal Bank Of Canada's revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be paid a dividend of $1.1152 per share. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio (DPR) is 50.33%.

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.

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