Royal Bank of Canada (TSE:RY) Share Price Passes Above 200 Day Moving Average – Here’s Why

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$166.73 and traded as high as C$179.30. Royal Bank of Canada shares last traded at C$178.67, with a volume of 4,498,610 shares changing hands.

Analyst Upgrades and Downgrades

RY has been the topic of a number of recent analyst reports. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$178.00 to C$180.00 in a research report on Friday, November 15th. Scotiabank boosted their price target on Royal Bank of Canada from C$167.00 to C$197.00 in a research report on Monday, November 25th. CIBC boosted their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. National Bankshares boosted their price target on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Finally, Canaccord Genuity Group boosted their price target on Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada has an average rating of “Buy” and a consensus price target of C$176.58.

Royal Bank of Canada Trading Up 1.5 %

The company has a market cap of C$251.92 billion, a P/E ratio of 15.83, a PEG ratio of 3.42 and a beta of 0.84. The stock’s 50-day moving average price is C$174.70 and its 200-day moving average price is C$166.73.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 24th will be given a $1.48 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date is Monday, January 27th. This represents a $5.92 annualized dividend and a yield of 3.31%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.31%.

Insider Activity at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the 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 sale, the insider now owns 25 shares in the company, valued at approximately C$4,427.24. This trade represents a 98.40 % decrease in their position. Also, Director David Ian Mckay sold 20,304 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total transaction of C$3,555,721.76. In the last quarter, insiders have sold 22,150 shares of company stock valued at $3,882,024.

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.