Analysts Set Royal Bank of Canada (TSE:RY) Price Target at C$180.33

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

RY has been the topic of several recent research reports. Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. UBS Group lowered their target price on Royal Bank of Canada from C$198.00 to C$196.00 in a research note 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 research report on Friday, February 28th. Cormark lowered their price objective on Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. Finally, Jefferies Financial Group dropped their price objective on Royal Bank of Canada from C$195.00 to C$180.00 in a research note on Monday, April 21st.

Royal Bank of Canada Stock Up 0.4%

RY traded up C$0.74 during trading on Friday, reaching C$178.61. 972,327 shares of the company were exchanged, compared to its average volume of 4,802,430. Royal Bank of Canada has a 12-month low of C$140.53 and a 12-month high of C$180.45. The company's 50-day moving average is C$165.22 and its two-hundred day moving average is C$169.44. The company has a market cap of C$252.73 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 23rd were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Thursday, April 24th. Royal Bank of Canada's payout ratio is 49.49%.

Insider Buying and Selling at Royal Bank of Canada

In other news, Director David Ian Mckay sold 20,304 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of C$161.89, for a total value of C$3,287,014.56. Also, Senior Officer Jennifer Kristine Publicover sold 401 shares of the firm's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of C$160.27, for a total value of C$64,266.71. Following the transaction, the insider now owns 152 shares of the company's stock, valued at C$24,360.45. The trade was a 72.51% decrease in their ownership of the stock. In the last three months, insiders have sold 62,330 shares of company stock valued at $10,312,755.

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.