Entropy Technologies LP Boosts Stock Position in Royal Bank Of Canada $RY

Entropy Technologies LP increased its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1,024.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,341 shares of the financial services provider’s stock after acquiring an additional 31,288 shares during the period. Entropy Technologies LP’s holdings in Royal Bank Of Canada were worth $5,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC increased its stake in Royal Bank Of Canada by 18.5% during the 4th quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after buying an additional 15,046 shares during the period. Fisher Asset Management LLC boosted its position in Royal Bank Of Canada by 6.1% in the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock valued at $1,086,601,000 after buying an additional 368,534 shares during the period. Rathbones Group PLC boosted its position in Royal Bank Of Canada by 9.0% in the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock valued at $55,480,000 after buying an additional 26,782 shares during the period. Indivisible Partners acquired a new position in shares of Royal Bank Of Canada in the fourth quarter worth $7,335,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Royal Bank Of Canada in the fourth quarter worth $49,450,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RY shares. Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Finally, Weiss Ratings cut Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $209.13 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $200.93 and a 200-day simple moving average of $180.81. The stock has a market cap of $289.98 billion, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 1.66 and a beta of 0.80. Royal Bank Of Canada has a 12-month low of $127.38 and a 12-month high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. During the same quarter in the prior year, the company posted $3.12 earnings per share. Royal Bank Of Canada’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts expect that Royal Bank Of Canada will post 11.45 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is currently 42.41%.

Royal Bank Of Canada Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.