Brokerages Set Royal Bank of Canada (TSE:RY) Price Target at C$176.58

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given an average recommendation of “Buy” by the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$181.00.

RY has been the subject of a number of research analyst reports. National Bankshares upped their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. Jefferies Financial Group decreased their price target on shares of Royal Bank of Canada from C$197.00 to C$192.00 in a research report on Tuesday. CIBC decreased their price target on shares of Royal Bank of Canada from C$176.00 to C$175.00 in a research report on Tuesday. Finally, Canaccord Genuity Group upped 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.

Insider Buying and Selling at Royal Bank of Canada

In other news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total transaction of C$53,938.25. Also, Senior Officer Douglas Antony Guzman sold 1,538 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total transaction of C$272,363.80. Following the transaction, the insider now directly owns 25 shares in the company, valued at C$4,427.24. The trade was a 98.40 % decrease in their position. Insiders sold a total of 22,150 shares of company stock valued at $3,882,024 in the last ninety days.

Royal Bank of Canada Stock Up 1.7 %

RY stock opened at C$171.54 on Friday. The company has a market cap of C$242.73 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 3.42 and a beta of 0.84. The business has a fifty day simple moving average of C$173.56 and a 200-day simple moving average of C$168.47. Royal Bank of Canada has a 52 week low of C$130.44 and a 52 week high of C$180.45.

Royal Bank of Canada Increases Dividend

The company also recently disclosed 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. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio is presently 49.49%.

Royal Bank of Canada Company Profile

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.