Royal Bank of Canada (TSE:RY) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Royal Bank of Canada (TSE:RY) (NYSE:RY) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$239.99 and traded as high as C$288.75. Royal Bank of Canada shares last traded at C$288.41, with a volume of 2,586,849 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RY shares. National Bank Financial increased their target price on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Canaccord Genuity Group boosted their price target on Royal Bank of Canada from C$280.00 to C$282.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Desjardins upped their price objective on Royal Bank of Canada from C$262.00 to C$275.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Barclays increased their price target on Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Finally, Jefferies Financial Group lifted their price objective on Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$260.81.

Royal Bank of Canada Price Performance

The company’s 50 day moving average is C$259.39 and its 200 day moving average is C$240.44. The stock has a market cap of C$401.78 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 3.42 and a beta of 1.08.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. The company had revenue of C$17.45 billion for the quarter. Sell-side analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 22nd were paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, April 23rd. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 41.35%.

Insider Buying and Selling

In other news, Director David Ian Mckay sold 133,130 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of C$287.21, for a total value of C$38,236,267.30. Following the completion of the transaction, the director owned 5,873 shares in the company, valued at C$1,686,784.33. This trade represents a 95.77% decrease in their ownership of the stock. Also, insider Graeme Ashley Hepworth sold 1,463 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total value of C$355,245.66. Over the last ninety days, insiders sold 300,475 shares of company stock valued at $83,241,466.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.