Royal Bank of Canada (TSE:RY) Receives Consensus Rating of "Buy" from Analysts

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY has been assigned a consensus rating of "Buy" from the eleven brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and five have issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$180.33.

A number of research firms have issued reports on RY. Scotiabank upgraded Royal Bank of Canada to a "strong-buy" rating in a research report on Thursday, May 15th. Jefferies Financial Group decreased their target price on Royal Bank of Canada from C$195.00 to C$180.00 in a research report on Monday, April 21st. National Bankshares set a C$179.00 price target on Royal Bank of Canada and gave the stock an "outperform" rating in a report on Thursday, May 22nd. TD Securities reduced their price target on Royal Bank of Canada from C$180.00 to C$178.00 and set a "hold" rating on the stock in a report on Friday, February 28th. Finally, UBS Group reduced their price target on Royal Bank of Canada from C$198.00 to C$196.00 in a report on Thursday, May 22nd.

Insider Buying and Selling

In related news, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$161.89, for a total value of C$49,862.12. Also, Senior Officer Jennifer Kristine Publicover sold 401 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of C$174.06, for a total value of C$69,798.94. Following the completion of the transaction, the insider now directly owns 152 shares in the company, valued at approximately C$26,457.45. This trade represents a 72.51% decrease in their ownership of the stock. Insiders have sold a total of 62,330 shares of company stock valued at $10,312,755 over the last ninety days.

Royal Bank of Canada Trading Down 2.9%

Royal Bank of Canada stock traded down C$5.20 during midday trading on Friday, reaching C$173.40. The company's stock had a trading volume of 1,008,431 shares, compared to its average volume of 4,795,450. Royal Bank of Canada has a 52 week low of C$140.53 and a 52 week high of C$180.45. The business has a 50-day moving average price of C$165.53 and a 200-day moving average price of C$169.50. The stock has a market cap of C$245.36 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be paid a $1.54 dividend. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.48. This represents a $6.16 dividend on an annualized basis and a dividend yield of 3.55%. Royal Bank of Canada's payout ratio is currently 49.49%.

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.