Dynamic Technology Lab Private Ltd Makes New Investment in Royal Bank of Canada (NYSE:RY)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,686 shares of the financial services provider’s stock, valued at approximately $1,832,000.

Other hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC boosted its stake in Royal Bank of Canada by 34.9% during the third quarter. Fisher Asset Management LLC now owns 411,904 shares of the financial services provider’s stock valued at $51,377,000 after buying an additional 106,534 shares during the last quarter. Larson Financial Group LLC purchased a new stake in shares of Royal Bank of Canada during the 3rd quarter worth approximately $26,000. Algert Global LLC bought a new position in shares of Royal Bank of Canada during the 3rd quarter valued at approximately $706,000. Kingsview Wealth Management LLC grew its holdings in shares of Royal Bank of Canada by 3.9% in the third quarter. Kingsview Wealth Management LLC now owns 3,423 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 127 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Royal Bank of Canada by 24.6% in the third quarter. Cerity Partners LLC now owns 43,487 shares of the financial services provider’s stock valued at $5,424,000 after purchasing an additional 8,576 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.6 %

RY stock opened at $124.30 on Tuesday. Royal Bank of Canada has a twelve month low of $85.02 and a twelve month high of $126.96. The stock has a market capitalization of $175.72 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.93 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 firm’s fifty day simple moving average is $123.41 and its two-hundred day simple moving average is $114.89.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The company had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. As a group, analysts anticipate that Royal Bank of Canada will post 8.37 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th were issued a $1.028 dividend. The ex-dividend date was Thursday, October 24th. This represents a $4.11 annualized dividend and a dividend yield of 3.31%. Royal Bank of Canada’s payout ratio is 50.79%.

Wall Street Analysts Forecast Growth

RY has been the subject of several research reports. BMO Capital Markets increased their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.50.

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.