JARISLOWSKY FRASER Ltd Has $243.41 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

JARISLOWSKY FRASER Ltd lowered its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,019,759 shares of the financial services provider's stock after selling 51,747 shares during the period. Royal Bank of Canada comprises about 1.4% of JARISLOWSKY FRASER Ltd's investment portfolio, making the stock its 26th biggest holding. JARISLOWSKY FRASER Ltd owned 0.14% of Royal Bank of Canada worth $243,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of RY. Barclays PLC raised its position in Royal Bank of Canada by 3.1% during the third quarter. Barclays PLC now owns 8,831 shares of the financial services provider's stock valued at $1,101,000 after acquiring an additional 268 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Royal Bank of Canada by 0.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 31,103 shares of the financial services provider's stock worth $3,879,000 after purchasing an additional 254 shares during the last quarter. Aprio Wealth Management LLC raised its holdings in shares of Royal Bank of Canada by 10.9% during the 4th quarter. Aprio Wealth Management LLC now owns 9,345 shares of the financial services provider's stock valued at $1,126,000 after purchasing an additional 915 shares in the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at $36,000. Finally, JTC Employer Solutions Trustee Ltd boosted its holdings in Royal Bank of Canada by 355.9% in the fourth quarter. JTC Employer Solutions Trustee Ltd now owns 1,705 shares of the financial services provider's stock worth $206,000 after purchasing an additional 1,331 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Trading Up 0.2 %

Royal Bank of Canada stock opened at $120.09 on Friday. The business's 50-day simple moving average is $115.04 and its 200-day simple moving average is $119.35. Royal Bank of Canada has a 52 week low of $102.44 and a 52 week high of $128.05. The firm has a market capitalization of $169.53 billion, a PE ratio of 14.54, a PEG ratio of 1.80 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.41%. Royal Bank of Canada's dividend payout ratio (DPR) is presently 46.18%.

Analysts Set New Price Targets

Several research firms have weighed in on RY. CIBC upgraded Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus 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.

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.