Royal Bank of Canada (TSE:RY) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$169.19 and traded as high as C$174.37. Royal Bank of Canada shares last traded at C$174.19, with a volume of 3,524,911 shares.

Wall Street Analyst Weigh In

RY has been the topic of several research reports. Jefferies Financial Group dropped their price objective on Royal Bank of Canada from C$195.00 to C$180.00 in a report on Monday, April 21st. Scotiabank upgraded shares of Royal Bank of Canada to a "strong-buy" rating in a research note on Thursday, May 15th. Cormark decreased their target price on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research note on Friday, February 28th. Cibc World Mkts upgraded shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, UBS Group decreased their target price on shares of Royal Bank of Canada from C$198.00 to C$196.00 in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Royal Bank of Canada has an average rating of "Buy" and an average price target of C$179.83.

Royal Bank of Canada Stock Performance

The stock's 50-day moving average price is C$163.78 and its 200-day moving average price is C$169.27. The company has a market capitalization of C$247.94 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 23rd will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.38%. Royal Bank of Canada's dividend payout ratio (DPR) is 49.49%.

Insider Transactions at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Jennifer Kristine Publicover sold 401 shares of Royal Bank of Canada stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 152 shares of the company's stock, valued at approximately C$24,360.45. The trade was 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 Monday, February 24th. The stock was sold at an average price of C$169.67, for a total transaction of C$3,444,896.43. Insiders sold a total of 61,929 shares of company stock valued at $10,152,340 in the last ninety days.

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.