Entropy Technologies LP Increases Stock Position in Royal Bank of Canada (NYSE:RY)

Entropy Technologies LP grew its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 96.5% in the fourth quarter, according to its most recent filing with the SEC. The fund 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 reporting period.

Other institutional investors have also bought and sold shares of the company. FMR LLC boosted its stake in Royal Bank of Canada by 75.8% during the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after buying an additional 7,702,585 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Royal Bank of Canada by 165.1% in 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 acquiring an additional 1,804,022 shares in the last quarter. International Assets Investment Management LLC bought a new position in Royal Bank of Canada in the third quarter worth approximately $153,217,000. Geode Capital Management LLC grew its position in shares of Royal Bank of Canada by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock worth $805,616,000 after buying an additional 541,760 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Royal Bank of Canada by 18.2% during 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 purchasing an additional 359,719 shares during the period. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $119.26 on Monday. The company has a market capitalization of $168.68 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.78 and a beta of 0.87. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. The business’s 50 day moving average is $121.79 and its two-hundred day moving average is $120.52. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a $1.0522 dividend. This represents a $4.21 annualized dividend and a yield of 3.53%. The ex-dividend date is Monday, January 27th. This is a positive change 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 Analysts Forecast Growth

A number of research analysts have recently issued reports on RY shares. BMO Capital Markets cut their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Company 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.