Jefferies Financial Group Has Lowered Expectations for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY - Free Report) NYSE: RY had its target price decreased by Jefferies Financial Group from C$195.00 to C$180.00 in a research note issued to investors on Monday,BayStreet.CA reports.

A number of other research analysts have also issued reports on the company. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Scotiabank lowered their price objective on shares of Royal Bank of Canada from C$197.00 to C$191.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. TD Securities cut their target price on shares of Royal Bank of Canada from C$180.00 to C$178.00 and set a "hold" rating for the company in a research note on Friday, February 28th. Cormark decreased their price target on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. Finally, CIBC upgraded Royal Bank of Canada from a "neutral" rating to an "outperform" rating and increased their price objective for the company from C$167.00 to C$168.00 in a research report on Friday, April 4th. One analyst has rated the stock with a hold rating, six have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of C$180.00.

Royal Bank of Canada Price Performance

Shares of TSE RY traded up C$0.26 during mid-day trading on Monday, reaching C$163.30. 14,776,711 shares of the company traded hands, compared to its average volume of 4,944,425. The stock has a fifty day simple moving average of C$162.81 and a 200-day simple moving average of C$169.55. The firm has a market cap of C$231.07 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a fifty-two week low of C$132.88 and a fifty-two week high of C$180.45.

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 23rd will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.63%. Royal Bank of Canada's dividend payout ratio is 49.49%.

Insider Buying and Selling

In other news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$169.67, for a total transaction of C$52,257.10. Also, Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$169.67, for a total value of C$3,444,896.43. In the last ninety days, insiders sold 61,929 shares of company stock valued at $10,152,340.

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.