Principal Financial Cuts Royal Bank Stake
Principal Financial Group Inc. significantly reduced its stake in Royal Bank Of Canada (NYSE:RY - Free Report) by 84% in Q1, according to a recent SEC filing.
The firm now owns 5,600 shares of the financial services provider's stock after selling 29,300 shares during the period, valued at $902,000.
This is not an isolated case - several other institutional investors have also adjusted their stakes in Royal Bank Of Canada. For example, Vanguard Group Inc. increased its holdings by 1.9% in Q4 and now owns 67.63 million shares worth $11.53 billion.