Entropy Technologies LP Buys New Shares in Royal Bank of Canada (NYSE:RY)

Entropy Technologies LP purchased a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,600 shares of the financial services provider’s stock, valued at approximately $823,000.

A number of other institutional investors have also recently bought and sold shares of RY. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada during the third quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after buying an additional 118 shares during the period. Grove Bank & Trust bought a new stake in shares of Royal Bank of Canada in the third quarter valued at approximately $28,000. Ridgewood Investments LLC bought a new stake in shares of Royal Bank of Canada in the second quarter valued at approximately $27,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Royal Bank of Canada during the second quarter worth $33,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

RY has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Stock Performance

Shares of RY opened at $122.39 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $173.02 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 1.90 and a beta of 0.86. The firm’s fifty day simple moving average is $123.34 and its two-hundred day simple moving average is $113.49. Royal Bank of Canada has a 12 month low of $85.02 and a 12 month high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. The company had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. As a group, analysts predict that Royal Bank of Canada will post 8.88 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a dividend of $1.028 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.36%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.67%.

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.