Brokerages Set Royal Bank of Canada (TSE:RY) Price Target at C$181.67

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been assigned a consensus rating of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$181.67.

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Royal Bank of Canada from C$192.00 to C$198.00 in a report on Friday, March 7th. BMO Capital Markets cut 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. Scotiabank cut their price target on shares of Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. National Bankshares upped their target price on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Finally, CIBC lowered their target price on shares of Royal Bank of Canada from C$175.00 to C$167.00 in a research report on Wednesday, March 5th.

Royal Bank of Canada Stock Up 1.9 %

TSE RY opened at C$160.00 on Tuesday. The stock has a market capitalization of C$226.40 billion, a P/E ratio of 13.94, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52-week low of C$131.57 and a 52-week high of C$180.45. The firm has a 50-day moving average price of C$170.28 and a 200 day moving average price of C$170.54.

Royal Bank of Canada Announces Dividend

The firm 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 3.70%. Royal Bank of Canada’s dividend payout ratio is presently 49.49%.

Insider Activity

In related news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 98.40 % decrease in their ownership of the stock. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$53,938.25. Insiders have sold 42,762 shares of company stock worth $7,379,177 over the last ninety days.

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.