Royal Bank of Canada (NYSE:RY) is Dynamic Technology Lab Private Ltd’s 8th Largest Position

Dynamic Technology Lab Private Ltd raised its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 81.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,720 shares of the financial services provider’s stock after acquiring an additional 12,034 shares during the quarter. Royal Bank of Canada makes up 0.5% of Dynamic Technology Lab Private Ltd’s portfolio, making the stock its 8th biggest holding. Dynamic Technology Lab Private Ltd’s holdings in Royal Bank of Canada were worth $3,220,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Dunhill Financial LLC purchased a new stake in shares of Royal Bank of Canada in the 3rd quarter worth $25,000. WealthTrak Capital Management LLC purchased a new stake in Royal Bank of Canada in the fourth quarter worth about $28,000. Roxbury Financial LLC bought a new position in shares of Royal Bank of Canada in the fourth quarter worth about $29,000. Kieckhefer Group LLC purchased a new position in shares of Royal Bank of Canada during the 4th quarter valued at about $36,000. Finally, Crews Bank & Trust bought a new position in shares of Royal Bank of Canada during the 4th quarter valued at approximately $36,000. 45.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Friday. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Trading Down 3.5 %

Shares of RY opened at $111.13 on Friday. The firm has a market cap of $156.88 billion, a P/E ratio of 13.45, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05. The company has a 50 day simple moving average of $116.60 and a two-hundred day simple moving average of $120.71.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.69%. Royal Bank of Canada’s payout ratio is 45.96%.

About Royal Bank of Canada

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.