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) (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.