Royal Bank of Canada (TSE:RY) Stock Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Royal Bank of Canada shares rose above their 200-day moving average, reaching C$296.60 and closing near C$293.47, compared with the average of C$253.31.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy”; however, the average price target is C$262.96, below the current share price.
• The bank increased its quarterly dividend to C$1.76 from C$1.64, representing an annualized dividend of C$7.04 and a yield of about 2.4%. Meanwhile, insiders have sold roughly C$100.2 million of shares over the past 90 days.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY's share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$253.31 and traded as high as C$296.60. Royal Bank of Canada shares last traded at C$293.47, with a volume of 4,022,214 shares traded.

Analysts Set New Price Targets

A number of research firms have recently commented on RY. Canaccord Genuity Group raised their price objective on shares of Royal Bank of Canada from C$282.00 to C$310.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Scotiabank increased their target price on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, June 16th. Raymond James Financial lifted their price target on Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a "market perform" rating in a research report on Friday, May 29th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Royal Bank of Canada from C$258.00 to C$279.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Finally, Jefferies Financial Group boosted their target price on Royal Bank of Canada from C$226.00 to C$232.00 in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$262.96.

Royal Bank of Canada Trading Up 0.0%

The company has a market capitalization of C$407.82 billion, a PE ratio of 19.08, a PEG ratio of 3.42 and a beta of 1.05. The firm has a fifty day moving average of C$286.83 and a two-hundred day moving average of C$253.31.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share (EPS) for the quarter. The business had revenue of C$17.45 billion for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%. On average, equities analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 24th will be issued a $1.76 dividend. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, July 27th. Royal Bank of Canada's dividend payout ratio (DPR) is 41.35%.

Insider Transactions at Royal Bank of Canada

In related news, insider Bruce Washington Ross sold 45,670 shares of Royal Bank of Canada stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of C$293.11, for a total value of C$13,386,333.70. Following the transaction, the insider directly owned 235 shares of the company's stock, valued at C$68,880.85. The trade was a 99.49% decrease in their ownership of the stock. Also, Director David Ian Mckay sold 133,130 shares of the company's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of C$287.21, for a total transaction of C$38,236,267.30. Following the sale, the director owned 5,873 shares of the company's stock, valued at C$1,686,784.33. This represents a 95.77% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 353,206 shares of company stock worth $100,237,874.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.

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