Royal Bank of Canada (NYSE:RY) Holdings Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 10.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,200 shares of the financial services provider's stock after selling 5,900 shares during the period. Principal Financial Group Inc.'s holdings in Royal Bank of Canada were worth $6,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of RY. Mount Yale Investment Advisors LLC increased its position in Royal Bank of Canada by 1.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider's stock valued at $619,000 after buying an additional 92 shares in the last quarter. Private Advisor Group LLC raised its position in Royal Bank of Canada by 1.6% during the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider's stock worth $768,000 after acquiring an additional 95 shares during the period. Shell Asset Management Co. grew its position in shares of Royal Bank of Canada by 3.8% in the first quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider's stock valued at $274,000 after purchasing an additional 100 shares during the period. HB Wealth Management LLC increased its stake in shares of Royal Bank of Canada by 1.9% during the second quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider's stock worth $562,000 after purchasing an additional 100 shares in the last quarter. Finally, Leisure Capital Management raised its position in shares of Royal Bank of Canada by 1.1% during the 3rd quarter. Leisure Capital Management now owns 9,366 shares of the financial services provider's stock worth $1,168,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Price Performance

NYSE:RY traded down $1.11 during mid-day trading on Wednesday, hitting $121.79. 359,499 shares of the company's stock traded hands, compared to its average volume of 1,099,708. The company has a market cap of $172.17 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a 1 year low of $85.02 and a 1 year high of $126.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The firm's 50 day simple moving average is $123.37 and its 200 day simple moving average is $114.27.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last released its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.15 by $0.23. The firm had revenue of $10.68 billion during the quarter, compared to analysts' expectations of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Sell-side analysts expect that Royal Bank of Canada will post 8.88 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a yield of 3.38%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada's payout ratio is currently 50.67%.

Analyst Ratings Changes

Several brokerages recently weighed in on RY. BMO Capital Markets increased their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. TD Securities downgraded Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $142.50.

Royal Bank of Canada Company 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.