Graeme Ashley Hepworth Sells 308 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Senior Officer Graeme Ashley Hepworth sold 308 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$53,938.25.

Royal Bank of Canada Stock Performance

Shares of TSE:RY opened at C$175.96 on Friday. The firm has a market capitalization of C$248.10 billion, a P/E ratio of 15.59, a P/E/G ratio of 3.42 and a beta of 0.84. The stock has a 50 day moving average price of C$174.33 and a 200-day moving average price of C$165.96. Royal Bank of Canada has a 52-week low of C$127.60 and a 52-week high of C$180.45.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 24th will be given 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 dividend on an annualized basis and a dividend yield of 3.36%. Royal Bank of Canada’s dividend payout ratio is currently 50.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their price objective for the company from C$178.00 to C$180.00 in a research note on Friday, November 15th. Scotiabank lifted their target price on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research note on Monday, November 25th. Canaccord Genuity Group upped their price target on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. Finally, BMO Capital Markets cut their price target on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$176.58.

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.