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

Key Points

• Royal Bank of Canada shares rose above their 200-day moving average in Tuesday trading, with the stock reaching as high as C$301.56 and last trading near C$300.95.
• Analysts have mostly positive views on the stock, with several firms raising price targets; MarketBeat cites a consensus rating of “Moderate Buy” and an average target price of C$262.96.
• The bank raised its quarterly dividend to C$1.76 from C$1.64, implying a 2.3% yield, while insiders have sold a significant amount of stock over the past 90 days.

Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$246.77 and traded as high as C$301.56. Royal Bank of Canada shares last traded at C$300.95, with a volume of 4,137,640 shares.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RY shares. Jefferies Financial Group increased their price objective on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. Barclays boosted their target price on shares of Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an "overweight" rating in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce upped their price target 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. Raymond James Financial upped their price target on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the stock a "market perform" rating in a report on Friday, May 29th. Finally, Canaccord Genuity Group increased their price target on Royal Bank of Canada from C$282.00 to C$310.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of C$262.96.

Royal Bank of Canada Stock Performance

The business's fifty day moving average is C$273.89 and its 200-day moving average is C$246.77. The firm has a market cap of C$418.22 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 3.42 and a beta of 1.05.

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

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 24th will be paid 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 2.3%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank of Canada's payout ratio is presently 41.35%.

Insiders Place Their Bets

In related news, insider Graeme Ashley Hepworth sold 1,463 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of C$284.86, for a total value of C$416,750.18. Also, insider Bruce Washington Ross sold 45,670 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was 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 approximately C$68,880.85. This represents a 99.49% decrease in their ownership of the stock. Insiders sold a total of 353,645 shares of company stock valued at $98,785,630 over the last ninety days.

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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