Royal Bank of Canada (TSE:RY) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$169.81 and traded as high as C$181.75. Royal Bank of Canada shares last traded at C$181.29, with a volume of 2,439,896 shares traded.

Analyst Ratings Changes

RY has been the topic of a number of research analyst reports. National Bank Financial lowered shares of Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a report on Thursday, May 29th. CIBC raised their target price on shares of Royal Bank of Canada from C$182.00 to C$183.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. UBS Group dropped their price objective on Royal Bank of Canada from C$198.00 to C$196.00 in a research note on Thursday, May 22nd. Barclays lifted their target price on shares of Royal Bank of Canada from C$180.00 to C$182.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Finally, Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of C$184.54.

Royal Bank of Canada Stock Performance

The company's 50-day simple moving average is C$174.48 and its two-hundred day simple moving average is C$169.81. The firm has a market cap of C$258.00 billion, a PE ratio of 15.89, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 22nd will be paid a dividend of $1.54 per share. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 3.38%. Royal Bank of Canada's payout ratio is presently 49.49%.

Insider Buying and Selling at Royal Bank of Canada

In related news, Senior Officer Jennifer Kristine Publicover sold 401 shares of Royal Bank of Canada stock in a transaction dated Friday, June 20th. The shares were sold at an average price of C$175.47, for a total transaction of C$70,363.23. Following the completion of the transaction, the insider directly owned 152 shares of the company's stock, valued at C$26,671.35. This trade represents a 72.51% decrease in their position. Also, Director David Ian Mckay sold 20,304 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of C$175.47, for a total transaction of C$3,562,730.70. In the last three months, insiders have sold 62,731 shares of company stock valued at $10,663,017.

Royal Bank of Canada Company Profile

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.