Royal Bank of Canada (TSE:RY) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$162.69 and traded as high as C$174.31. Royal Bank of Canada shares last traded at C$172.27, with a volume of 4,303,683 shares traded.

Wall Street Analyst Weigh In

Several analysts have issued reports on RY shares. Canaccord Genuity Group upped their target price on Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. Barclays raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Scotiabank lifted their target price on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research report on Monday, November 25th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price target for the company from C$178.00 to C$180.00 in a research report on Friday, November 15th. Finally, CIBC lifted their price objective on Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Buy” and an average price target of C$176.58.

Royal Bank of Canada Stock Down 0.6 %

The company has a market cap of C$242.90 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The firm has a 50 day simple moving average of C$173.72 and a 200-day simple moving average of C$162.69.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, January 27th. This is a positive change 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 3.44%. Royal Bank of Canada’s payout ratio is 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 25 shares in the company, valued at approximately C$4,427.24. This represents a 98.40 % decrease in their ownership of the stock.

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.