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

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

RY has been the topic of several recent research reports. Jefferies Financial Group reduced their price objective on Royal Bank of Canada from C$197.00 to C$192.00 in a research report on Tuesday, February 18th. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. TD Securities reduced their price objective on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. UBS Group increased their target price on Royal Bank of Canada from C$192.00 to C$198.00 in a report on Friday, March 7th. Finally, BMO Capital Markets dropped their target price on Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th.

Insiders Place Their Bets

In other news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of C$169.67, for a total value of C$52,257.10. Also, Director David Ian Mckay sold 20,304 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total value of C$3,555,721.76. In the last 90 days, insiders sold 41,224 shares of company stock worth $7,106,814.

Royal Bank of Canada Trading Up 0.6 %

Shares of Royal Bank of Canada stock opened at C$161.03 on Tuesday. The firm has a market capitalization of C$227.86 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The business’s 50-day moving average price is C$170.01 and its 200-day moving average price is C$170.47. Royal Bank of Canada has a 12 month low of C$131.57 and a 12 month high of C$180.45.

Royal Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 3.68%. Royal Bank of Canada’s dividend payout ratio (DPR) 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.