Royal Bank of Canada (NYSE:RY) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,674,766 shares of the financial services provider's stock after selling 13,458 shares during the quarter. Franklin Resources Inc. owned approximately 0.19% of Royal Bank of Canada worth $336,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in shares of Royal Bank of Canada by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider's stock valued at $10,483,000 after buying an additional 4,980 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Royal Bank of Canada by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider's stock worth $1,118,150,000 after acquiring an additional 190,341 shares during the period. Creative Planning boosted its holdings in shares of Royal Bank of Canada by 6.4% in the third quarter. Creative Planning now owns 211,411 shares of the financial services provider's stock valued at $26,369,000 after acquiring an additional 12,693 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Royal Bank of Canada by 0.9% during the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider's stock worth $1,706,833,000 after acquiring an additional 124,348 shares during the period. Finally, Algert Global LLC purchased a new position in Royal Bank of Canada during the third quarter worth about $706,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Price Performance

Shares of NYSE RY traded down $0.18 on Friday, hitting $124.50. The company's stock had a trading volume of 436,968 shares, compared to its average volume of 1,076,085. The stock has a 50 day moving average of $124.06 and a 200-day moving average of $116.73. The company has a market capitalization of $176.00 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.88 and a beta of 0.86. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This represents a $4.21 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Monday, January 27th. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.03. Royal Bank of Canada's dividend payout ratio is 52.91%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RY shares. TD Securities cut Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Barclays upgraded shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a report on Thursday, November 21st. Finally, BMO Capital Markets lowered their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate 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.