Royal Bank of Canada (NYSE:RY) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,400 shares of the financial services provider’s stock after selling 5,800 shares during the quarter. Principal Financial Group Inc.’s holdings in Royal Bank of Canada were worth $5,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Larson Financial Group LLC bought a new position in shares of Royal Bank of Canada in the third quarter worth about $26,000. Roxbury Financial LLC acquired a new stake in Royal Bank of Canada in the 4th quarter worth $29,000. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in Royal Bank of Canada during the fourth quarter worth $36,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Price Performance

Shares of RY opened at $116.87 on Tuesday. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. The stock has a market cap of $165.30 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.80 and a beta of 0.87. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The business’s fifty day moving average is $120.07 and its 200 day moving average is $121.66.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.51%. Royal Bank of Canada’s payout ratio is 45.73%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. BMO Capital Markets dropped their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.