Brokerages Set Royal Bank of Canada (TSE:RY) PT at C$180.00

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY has earned a consensus rating of "Buy" from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and four have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$180.00.

Several brokerages recently issued reports on RY. UBS Group upped their price objective on shares of Royal Bank of Canada from C$192.00 to C$198.00 in a research note on Friday, March 7th. National Bankshares decreased their target price on Royal Bank of Canada from C$190.00 to C$179.00 and set an "outperform" rating on the stock in a research note on Monday, April 7th. Scotiabank lowered their price objective on Royal Bank of Canada from C$197.00 to C$191.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Cormark decreased their price target on Royal Bank of Canada from C$194.00 to C$189.00 in a report on Friday, February 28th. Finally, 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 on the stock in a report on Friday, February 28th.

Insider Activity at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Jennifer Kristine Publicover sold 401 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now directly owns 152 shares of the company's stock, valued at approximately C$24,360.45. This represents a 72.51 % decrease in their position. Also, Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of C$160.27, for a total transaction of C$3,254,042.89. Insiders sold 61,929 shares of company stock worth $10,152,340 in the last 90 days.

Royal Bank of Canada Stock Up 0.8 %

Shares of TSE RY traded up C$1.28 during midday trading on Wednesday, hitting C$167.43. The stock had a trading volume of 2,914,898 shares, compared to its average volume of 4,976,236. The stock has a 50 day simple moving average of C$162.39 and a 200-day simple moving average of C$169.45. The company has a market capitalization of C$236.91 billion, a PE ratio of 14.59, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 1 year low of C$136.36 and a 1 year high of C$180.45.

Royal Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 23rd will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, April 24th. This represents a $5.92 dividend on an annualized basis and a yield of 3.54%. Royal Bank of Canada's dividend payout ratio (DPR) is presently 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.