Royal Bank of Canada (TSE:RY) Given New C$192.00 Price Target at UBS Group

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target decreased by UBS Group from C$200.00 to C$192.00 in a research report report published on Friday morning,BayStreet.CA reports.

A number of other analysts also recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. Scotiabank boosted their target price on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research report on Monday, November 25th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their target price for the company from C$178.00 to C$180.00 in a research note on Friday, November 15th. BMO Capital Markets decreased their price target on Royal Bank of Canada from C$195.00 to C$193.00 in a research note on Thursday, December 5th. Finally, National Bankshares upped their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$178.83.

Royal Bank of Canada Stock Performance

Shares of RY opened at C$168.67 on Friday. Royal Bank of Canada has a one year low of C$130.44 and a one year high of C$180.45. The stock has a 50-day moving average price of C$173.97 and a 200 day moving average price of C$168.24. The company has a market capitalization of C$238.67 billion, a P/E ratio of 14.70, a P/E/G 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 Monday, February 24th. Shareholders of record on Monday, February 24th will be given a $1.48 dividend. The ex-dividend date of this dividend is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 3.51%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.49%.

Insider Activity

In other news, Director David Ian Mckay sold 20,304 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$3,555,721.76. Also, Senior Officer Douglas Antony Guzman sold 1,538 shares of Royal Bank of Canada stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of C$177.09, for a total transaction of C$272,363.80. Following the sale, the insider now owns 25 shares in the company, valued at approximately C$4,427.24. This represents a 98.40 % decrease in their ownership of the stock. Over the last quarter, insiders sold 22,150 shares of company stock valued at $3,882,024.

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.