Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY have been given an average recommendation of "Moderate Buy" by the eleven research firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$206.00.
Several equities analysts have recently issued reports on the company. Canaccord Genuity Group lifted their price target on Royal Bank of Canada from C$201.00 to C$219.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. TD Securities raised their target price on Royal Bank of Canada from C$191.00 to C$208.00 and gave the company a "hold" rating in a research note on Thursday, August 28th. BMO Capital Markets lifted their target price on Royal Bank of Canada from C$190.00 to C$203.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Erste Group Bank raised shares of Royal Bank of Canada to a "strong-buy" rating in a report on Monday, September 22nd. Finally, Jefferies Financial Group lifted their price objective on shares of Royal Bank of Canada from C$198.00 to C$207.00 in a research note on Wednesday, August 13th.
Read Our Latest Report on Royal Bank of Canada
Insider Activity
In other news, Senior Officer Jennifer Kristine Publicover sold 401 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total transaction of C$73,102.98. Following the completion of the sale, the insider directly owned 152 shares of the company's stock, valued at C$27,709.86. This trade represents a 72.51% decrease in their position. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total value of C$56,148.92. In the last 90 days, insiders sold 21,013 shares of company stock worth $3,830,706.
Royal Bank of Canada Trading Down 0.1%
Shares of TSE:RY opened at C$203.63 on Friday. The company has a 50 day moving average of C$191.91 and a 200-day moving average of C$177.35. The firm has a market cap of C$287.18 billion, a P/E ratio of 15.40, a P/E/G ratio of 3.42 and a beta of 1.17. Royal Bank of Canada has a twelve month low of C$151.25 and a twelve month high of C$206.90.
Royal Bank of Canada Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 22nd were issued a $1.54 dividend. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.48. This represents a $6.16 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, July 24th. Royal Bank of Canada's dividend payout ratio is currently 44.78%.
Royal Bank of Canada Company Profile
(
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Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.
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