Royal Bank of Canada (TSE:RY) Receives C$181.67 Average Target Price from Analysts

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been given a consensus recommendation of “Buy” by the ten research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$181.67.

A number of analysts have recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. BMO Capital Markets lowered their price target on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. CIBC dropped their price objective on shares of Royal Bank of Canada from C$175.00 to C$167.00 in a research note on Wednesday, March 5th. UBS Group lifted their target price on shares of Royal Bank of Canada from C$192.00 to C$198.00 in a research report on Friday, March 7th. Finally, Jefferies Financial Group dropped their price target on shares of Royal Bank of Canada from C$197.00 to C$192.00 in a research report on Tuesday, February 18th.

Insider Buying and Selling

In other Royal Bank of Canada news, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$53,938.25. Also, Director David Ian Mckay sold 20,304 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of C$169.67, for a total value of C$3,444,896.43. Insiders sold a total of 42,762 shares of company stock valued at $7,379,177 over the last three months.

Royal Bank of Canada Stock Down 1.8 %

RY stock opened at C$157.05 on Tuesday. The business’s 50-day simple moving average is C$170.56 and its 200 day simple moving average is C$170.40. The company has a market cap of C$222.23 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a twelve month low of C$131.57 and a twelve month high of C$180.45.

Royal Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 3.77%. Royal Bank of Canada’s dividend payout ratio is currently 49.49%.

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.