Royal Bank of Canada (TSE:RY) Given New C$198.00 Price Target at UBS Group

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by UBS Group from C$192.00 to C$198.00 in a report published on Friday morning,BayStreet.CA reports.

Several other brokerages also recently weighed in on RY. TD Securities lowered their price target on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating for the company in a report on Friday, February 28th. Canaccord Genuity Group lifted their target price on Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. Cormark decreased their target price on Royal Bank of Canada from C$194.00 to C$189.00 in a report on Friday, February 28th. BMO Capital Markets decreased their target price on Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. Finally, Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$181.67.

Royal Bank of Canada Stock Performance

Shares of TSE RY opened at C$165.38 on Friday. The company has a market cap of C$234.01 billion, a PE ratio of 14.41, a P/E/G ratio of 3.42 and a beta of 0.84. The business has a 50-day simple moving average of C$171.61 and a two-hundred day simple moving average of C$170.22. Royal Bank of Canada has a fifty-two week low of C$131.57 and a fifty-two week high of C$180.45.

Royal Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 3.58%. Royal Bank of Canada’s dividend payout ratio is currently 49.49%.

Insider Activity at Royal Bank of Canada

In other news, Director David Ian Mckay sold 20,304 shares of the business’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 value of C$3,555,721.76. Also, Senior Officer Douglas Antony Guzman sold 1,538 shares of the business’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 value of C$272,363.80. Following the completion of the sale, the insider now owns 25 shares of the company’s stock, valued at C$4,427.24. This trade represents a 98.40 % decrease in their ownership of the stock. Over the last ninety days, insiders sold 42,762 shares of company stock worth $7,379,177.

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.