Royal Bank of Canada (TSE:RY) Given Average Rating of “Buy” by Analysts

Royal Bank of Canada (TSE:RY) (NYSE:RY) has received an average rating of “Buy” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$181.67.

RY has been the subject of several recent research reports. National Bankshares upped their price target on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. Canaccord Genuity Group upped their price target on Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. TD Securities cut 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. Finally, Cormark cut their price objective on Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th.

Royal Bank of Canada Stock Up 0.6 %

TSE RY opened at C$161.03 on Tuesday. The business has a 50 day moving average price of C$170.01 and a 200-day moving average price of C$170.47. Royal Bank of Canada has a 52 week low of C$131.57 and a 52 week high of C$180.45. The company has a market cap of C$227.86 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Dividend Announcement

The company 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 dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.68%. Royal Bank of Canada’s dividend payout ratio is presently 49.49%.

Insider Activity

In related news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the business’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$53,938.25. Also, Director David Ian Mckay sold 20,304 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$169.67, for a total value of C$3,444,896.43. Insiders have sold 41,224 shares of company stock valued at $7,106,814 in the last 90 days.

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.