Royal Bank of Canada (TSE:RY) Price Target Lowered to C$192.00 at Jefferies Financial Group

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective cut by Jefferies Financial Group from C$197.00 to C$192.00 in a research report report published on Tuesday morning,BayStreet.CA reports.

Several other research firms have also weighed in on RY. Canaccord Genuity Group upped their target price on Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. Scotiabank upped their target price on Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. UBS Group lowered their target price on Royal Bank of Canada from C$200.00 to C$192.00 in a report on Friday, February 14th. Finally, National Bankshares upped their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$181.00.

Royal Bank of Canada Trading Up 1.7 %

TSE:RY opened at C$171.54 on Tuesday. The firm has a market cap of C$242.73 billion, a P/E ratio of 14.95, a PEG ratio of 3.42 and a beta of 0.84. The stock’s 50 day simple moving average is C$173.56 and its 200-day simple moving average is C$168.47. Royal Bank of Canada has a 12-month low of C$130.44 and a 12-month high of C$180.45.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Monday, January 27th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.49%.

Insiders Place Their Bets

In related news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total value of C$272,363.80. Following the sale, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,427.24. This trade represents a 98.40 % decrease in their position. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total value of C$53,938.25. Insiders have sold a total of 22,150 shares of company stock valued at $3,882,024 in the last quarter.

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.