Principal Financial Group Inc. decreased its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 10.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,400 shares of the financial services provider's stock after selling 5,800 shares during the period. Principal Financial Group Inc.'s holdings in Royal Bank of Canada were worth $5,712,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Addison Advisors LLC raised its stake in shares of Royal Bank of Canada by 9.5% in the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider's stock valued at $118,000 after acquiring an additional 82 shares in the last quarter. Financial Management Professionals Inc. increased its holdings in Royal Bank of Canada by 26.8% during the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider's stock worth $51,000 after purchasing an additional 90 shares during the period. Drive Wealth Management LLC raised its position in Royal Bank of Canada by 3.4% in the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider's stock valued at $349,000 after purchasing an additional 92 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of Royal Bank of Canada by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider's stock valued at $519,000 after buying an additional 94 shares during the period. Finally, Richardson Financial Services Inc. boosted its stake in shares of Royal Bank of Canada by 45.7% in the 4th quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider's stock valued at $37,000 after buying an additional 96 shares during the period. 45.31% of the stock is currently owned by hedge funds and other institutional investors.
Royal Bank of Canada Stock Performance
Shares of NYSE RY traded up $0.61 during trading hours on Friday, reaching $114.85. The stock had a trading volume of 345,769 shares, compared to its average volume of 1,264,892. The firm has a 50-day moving average of $119.66 and a 200-day moving average of $121.57. The firm has a market cap of $162.44 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.80 and a beta of 0.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05.
Royal Bank of Canada Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's payout ratio is currently 45.96%.
Analyst Ratings Changes
A number of research firms have weighed in on RY. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. BMO Capital Markets cut their target price on 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. Barclays raised Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a report on Thursday, November 21st. Finally, TD Securities cut shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $156.50.
Read Our Latest Analysis on RY
About Royal Bank of Canada
(
Free Report)
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.
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