Analysts Set Royal Bank of Canada (TSE:RY) Price Target at C$176.58

Royal Bank of Canada (TSE:RY) (NYSE:RY) has received a consensus rating of “Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$176.58.

RY has been the subject of several analyst reports. Canaccord Genuity Group increased their target price on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. CIBC lifted their target price on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. National Bankshares lifted their price target on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. Finally, TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price objective for the company from C$178.00 to C$180.00 in a research note on Friday, November 15th.

Insider Activity at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total transaction of C$272,363.80. Following the sale, the insider now directly owns 25 shares in the company, valued at C$4,427.24. This represents a 98.40 % decrease in their ownership of the stock.

Royal Bank of Canada Trading Up 0.2 %

TSE RY opened at C$173.32 on Thursday. The business has a fifty day simple moving average of C$173.72 and a 200 day simple moving average of C$162.69. Royal Bank of Canada has a 12 month low of C$127.60 and a 12 month high of C$180.45. The firm has a market capitalization of C$244.38 billion, a P/E ratio of 15.35, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 24th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Monday, January 27th. 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 dividend payout ratio (DPR) 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.