Royal Bank of Canada (NYSE:RY) Shares Acquired by Entropy Technologies LP

Entropy Technologies LP boosted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 96.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,972 shares of the financial services provider’s stock after acquiring an additional 6,372 shares during the quarter. Entropy Technologies LP’s holdings in Royal Bank of Canada were worth $1,563,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC raised its position in shares of Royal Bank of Canada by 75.8% during the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after acquiring an additional 7,702,585 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Royal Bank of Canada by 165.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock worth $361,532,000 after purchasing an additional 1,804,022 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Royal Bank of Canada during the third quarter worth about $153,217,000. Geode Capital Management LLC grew its stake in shares of Royal Bank of Canada by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after purchasing an additional 541,760 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Royal Bank of Canada by 18.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock valued at $291,925,000 after buying an additional 359,719 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Trading Down 0.1 %

RY stock opened at $119.26 on Monday. The business has a fifty day simple moving average of $121.79 and a 200-day simple moving average of $120.52. Royal Bank of Canada has a 52 week low of $93.97 and a 52 week high of $128.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a market cap of $168.68 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.78 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.53%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is presently 49.76%.

Wall Street Analyst Weigh In

RY has been the topic of several recent analyst reports. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets decreased 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 investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada 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.