Royal Bank of Canada (TSE:RY) Announces $1.48 Quarterly Dividend

Royal Bank of Canada (TSE:RY) (NYSE:RY) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Investors of record on Thursday, April 24th will be given a dividend of 1.48 per share by the financial services provider on Friday, May 23rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.56%.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at C$166.52 on Friday. The company has a market cap of C$235.63 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a one year low of C$130.44 and a one year high of C$180.45. The business has a fifty day moving average of C$172.49 and a two-hundred day moving average of C$169.54.

Analyst Ratings Changes

RY has been the subject of several recent analyst reports. National Bankshares raised their price objective on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. CIBC reduced their price target on shares of Royal Bank of Canada from C$176.00 to C$175.00 in a research report on Tuesday, February 18th. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating and lifted their price objective for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. Finally, Jefferies Financial Group decreased their target price on Royal Bank of Canada from C$197.00 to C$192.00 in a research report on Tuesday, February 18th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$180.50.

Insider Activity at Royal Bank of Canada

In related news, Director David Ian Mckay sold 20,304 shares of the company’s stock in a transaction that occurred on 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. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of C$169.67, for a total transaction of C$52,257.10. Insiders have sold a total of 42,762 shares of company stock valued at $7,379,177 over the last quarter.

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.