UBS Group Has Lowered Expectations for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target trimmed by UBS Group from C$200.00 to C$192.00 in a research note released on Friday,BayStreet.CA reports.

RY has been the topic of a number of other research reports. Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price target for the company from C$178.00 to C$180.00 in a report on Friday, November 15th. Canaccord Genuity Group raised their price objective on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. BMO Capital Markets cut their target price on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a research note on Thursday, December 5th. Finally, CIBC raised their target price on Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$178.83.

Royal Bank of Canada Stock Down 0.4 %

Shares of TSE RY opened at C$168.67 on Friday. The stock’s fifty day simple moving average is C$173.97 and its 200 day simple moving average is C$168.24. The stock has a market capitalization of C$238.67 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52-week low of C$130.44 and a 52-week high of C$180.45.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 24th will be paid a dividend of $1.48 per share. The ex-dividend date is Monday, January 27th. This is an increase 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 3.51%. Royal Bank of Canada’s dividend payout ratio (DPR) is 49.49%.

Insider Activity at Royal Bank of Canada

In other news, Director David Ian Mckay sold 20,304 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$3,555,721.76. Also, 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 transaction, the insider now directly owns 25 shares in the company, valued at approximately C$4,427.24. This represents a 98.40 % decrease in their position. In the last quarter, insiders sold 22,150 shares of company stock valued at $3,882,024.

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.