Principal Financial Group Inc. trimmed its stake in Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,700 shares of the financial services provider’s stock after selling 700 shares during the quarter. Principal Financial Group Inc.’s holdings in Royal Bank Of Canada were worth $5,260,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Park Square Financial Group LLC bought a new stake in Royal Bank Of Canada during the fourth quarter valued at about $25,000. WealthTrak Capital Management LLC bought a new stake in shares of Royal Bank Of Canada during the 4th quarter valued at $28,000. Sunbelt Securities Inc. lifted its stake in shares of Royal Bank Of Canada by 2,272.7% during the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock valued at $29,000 after buying an additional 250 shares in the last quarter. Optiver Holding B.V. purchased a new stake in Royal Bank Of Canada in the 4th quarter worth $35,000. Finally, Transce3nd LLC bought a new stake in Royal Bank Of Canada during the fourth quarter valued at about $37,000. 45.31% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. National Bank Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note on Friday, May 30th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. Cibc World Mkts upgraded shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. CIBC reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Finally, Wall Street Zen cut Royal Bank Of Canada from a “hold” rating to a “sell” rating in a report on Saturday, May 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $193.00.
Royal Bank Of Canada Price Performance
Shares of RY opened at $131.99 on Thursday. The company’s fifty day moving average price is $128.06 and its 200-day moving average price is $121.02. Royal Bank Of Canada has a 1-year low of $102.89 and a 1-year high of $133.84. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $186.18 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.49 and a beta of 0.89.
Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last announced its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.05). The company had revenue of $11.38 billion for the quarter, compared to analysts’ expectations of $15.77 billion. Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.92 earnings per share. On average, equities research analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.
Royal Bank Of Canada Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be issued a $1.1152 dividend. This represents a $4.46 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Thursday, July 24th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.03. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 45.67%.
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.
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