Royal Bank of Canada (TSE:RY) Price Target Lowered to C$196.00 at UBS Group

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price lowered by UBS Group from C$198.00 to C$196.00 in a report released on Tuesday,BayStreet.CA reports.

A number of other analysts also recently issued reports on the company. Scotiabank cut their target price on Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Cormark cut their target price on Royal Bank of Canada from C$194.00 to C$189.00 in a research note on Friday, February 28th. Jefferies Financial Group cut their target price on Royal Bank of Canada from C$195.00 to C$180.00 in a research note on Monday, April 21st. TD Securities cut their target price on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Finally, CIBC raised Royal Bank of Canada from a “neutral” rating to an “outperform” rating and raised their target price for the stock from C$167.00 to C$168.00 in a research note on Friday, April 4th. One analyst has rated the stock with a hold rating, six have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Buy” and a consensus price target of C$179.83.

Royal Bank of Canada Stock Performance

TSE RY opened at C$169.78 on Tuesday. The business has a fifty day moving average price of C$162.42 and a 200 day moving average price of C$169.15. The company has a market cap of C$240.24 billion, a P/E ratio of 14.79, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a one year low of C$140.53 and a one year high of C$180.45.

Royal Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 23rd will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 3.49%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 49.49%.

Insider Transactions at Royal Bank of Canada

In other news, Director David Ian Mckay sold 20,304 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$169.67, for a total value of C$3,444,896.43. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of C$161.89, for a total value of C$49,862.12. Over the last quarter, insiders have sold 61,929 shares of company stock valued at $10,152,340.

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.