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.
Check Out Our Latest Research Report on RY
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
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Get Free ReportRoyal 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.
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