Dynamic Technology Lab Private Ltd Buys 12,034 Shares of Royal Bank of Canada (NYSE:RY)

Dynamic Technology Lab Private Ltd increased its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 81.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,720 shares of the financial services provider's stock after purchasing an additional 12,034 shares during the quarter. Royal Bank of Canada comprises about 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 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of RY. Dunhill Financial LLC acquired a new position in Royal Bank of Canada during the third quarter worth about $25,000. WealthTrak Capital Management LLC acquired a new position in shares of Royal Bank of Canada in the 4th quarter worth approximately $28,000. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada in the 4th quarter worth approximately $29,000. Kieckhefer Group LLC bought a new stake in shares of Royal Bank of Canada in the 4th quarter worth approximately $36,000. Finally, Crews Bank & Trust acquired a new stake in Royal Bank of Canada during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RY. CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $156.50.

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Royal Bank of Canada Stock Down 3.2 %

Shares of Royal Bank of Canada stock traded down $3.65 during midday trading on Thursday, hitting $110.08. The company's stock had a trading volume of 638,593 shares, compared to its average volume of 1,090,373. The firm has a market capitalization of $155.39 billion, a P/E ratio of 13.32, a PEG ratio of 1.80 and a beta of 0.82. 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 stock has a 50-day simple moving average of $115.41 and a 200-day simple moving average of $120.30. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 45.96%.

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.