Royal Bank of Canada (TSE:RY) Receives Average Rating of “Buy” from Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been assigned a consensus rating of “Buy” from the eleven analysts that are covering the stock, Marketbeat 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 12-month price objective among brokerages that have issued a report on the stock in the last year is C$176.58.

Several research analysts have recently weighed in on RY shares. Canaccord Genuity Group boosted their price target on Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. Scotiabank boosted their target price on Royal Bank of Canada from C$167.00 to C$197.00 in a research report on Monday, November 25th. CIBC raised their price target on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday, November 26th. BMO Capital Markets decreased their price objective on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. Finally, Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st.

Insider Activity

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the 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 completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at C$4,427.24. This trade represents a 98.40 % decrease in their position.

Royal Bank of Canada Stock Down 0.7 %

Shares of TSE RY opened at C$173.06 on Thursday. The company has a 50 day moving average of C$173.73 and a 200 day moving average of C$162.22. Royal Bank of Canada has a twelve month low of C$127.60 and a twelve month high of C$180.45. The firm has a market cap of C$244.01 billion, a P/E ratio of 15.33, a PEG 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. Investors of record on Monday, January 27th will be given a dividend of $1.48 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 3.42%. Royal Bank of Canada’s payout ratio is 50.31%.

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.