Entropy Technologies LP Invests $823,000 in Royal Bank of Canada (NYSE:RY)

Entropy Technologies LP purchased a new stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,600 shares of the financial services provider's stock, valued at approximately $823,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RY. Tacita Capital Inc raised its holdings in Royal Bank of Canada by 12.7% during the 3rd quarter. Tacita Capital Inc now owns 32,818 shares of the financial services provider's stock valued at $4,101,000 after buying an additional 3,700 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Royal Bank of Canada by 9.5% during the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider's stock worth $118,000 after purchasing an additional 82 shares during the period. Lindbrook Capital LLC grew its stake in shares of Royal Bank of Canada by 5.5% in the third quarter. Lindbrook Capital LLC now owns 2,090 shares of the financial services provider's stock worth $261,000 after purchasing an additional 109 shares during the last quarter. Assetmark Inc. raised its position in Royal Bank of Canada by 274.5% during the 3rd quarter. Assetmark Inc. now owns 3,775 shares of the financial services provider's stock valued at $471,000 after purchasing an additional 2,767 shares during the last quarter. Finally, Fiera Capital Corp lifted its holdings in Royal Bank of Canada by 3.7% in the 3rd quarter. Fiera Capital Corp now owns 4,759,385 shares of the financial services provider's stock worth $594,791,000 after buying an additional 171,125 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock traded down $0.91 during trading hours on Friday, reaching $121.48. 1,968,947 shares of the stock traded hands, compared to its average volume of 1,096,290. Royal Bank of Canada has a one year low of $85.02 and a one year high of $126.96. The firm has a market capitalization of $171.73 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.89 and a beta of 0.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average price of $123.36 and a 200 day moving average price of $113.56.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.15 by $0.23. The firm had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. On average, equities research analysts expect that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be given a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada's dividend payout ratio is currently 50.79%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RY shares. TD Securities cut shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday. 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 report on Thursday, August 29th. Finally, StockNews.com lowered Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, July 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.50.

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.