Canaccord Genuity Group Increases Royal Bank of Canada (TSE:RY) Price Target to C$282.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price lifted by Canaccord Genuity Group from C$280.00 to C$282.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. Canaccord Genuity Group’s price target points to a potential upside of 3.76% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Scotiabank lifted their price objective on Royal Bank of Canada from C$252.00 to C$275.00 and gave the company a “sector outperform” rating in a report on Monday. TD lifted their price objective on Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a report on Friday, May 29th. TD Securities cut their price objective on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a report on Friday, February 27th. Canadian Imperial Bank of Commerce lifted their price objective on Royal Bank of Canada from C$258.00 to C$279.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Finally, National Bank Financial lifted their price objective on Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus target price of C$260.42.

Royal Bank of Canada Trading Up 0.3%

RY stock traded up C$0.83 during midday trading on Friday, hitting C$271.77. The stock had a trading volume of 1,287,152 shares, compared to its average volume of 3,704,021. The firm has a market capitalization of C$377.68 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 3.42 and a beta of 1.14. Royal Bank of Canada has a 52 week low of C$173.39 and a 52 week high of C$272.35. The stock has a 50-day simple moving average of C$244.81 and a 200 day simple moving average of C$233.83.

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 EPS for the quarter. The firm had revenue of C$17.45 billion during the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%. On average, equities analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jennifer Kristine Publicover sold 439 shares of Royal Bank of Canada stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total value of C$114,943.37. Following the completion of the transaction, the insider directly owned 152 shares of the company’s stock, valued at C$39,798.16. The trade was a 74.28% decrease in their ownership of the stock. Also, insider Graeme Ashley Hepworth sold 1,463 shares of Royal Bank of Canada stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total value of C$355,245.66. Insiders sold a total of 58,220 shares of company stock valued at $14,690,362 over the last three months.

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.