Royal Bank of Canada (NYSE:RY) Receives $156.50 Consensus PT from Analysts

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY has been given an average recommendation of "Buy" by the seven analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $156.50.

RY has been the subject of a number of analyst reports. BMO Capital Markets reduced their price target on Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. Barclays raised shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research note on Thursday, November 21st. Finally, TD Securities cut shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday, November 15th.

Institutional Trading of Royal Bank of Canada

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of Royal Bank of Canada in the second quarter valued at approximately $198,000. Envestnet Portfolio Solutions Inc. increased its stake in shares of Royal Bank of Canada by 12.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,067 shares of the financial services provider's stock worth $326,000 after acquiring an additional 338 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Royal Bank of Canada by 293.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider's stock worth $54,000 after acquiring an additional 379 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Royal Bank of Canada by 2.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 137,193 shares of the financial services provider's stock valued at $14,595,000 after acquiring an additional 2,804 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. grew its holdings in shares of Royal Bank of Canada by 11.4% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,141 shares of the financial services provider's stock valued at $37,035,000 after purchasing an additional 35,584 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank of Canada Stock Performance

RY traded down $3.86 on Wednesday, reaching $119.84. The stock had a trading volume of 2,280,713 shares, compared to its average volume of 1,077,212. The business's 50-day moving average price is $124.10 and its two-hundred day moving average price is $117.14. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. The company has a market cap of $169.41 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.51%. Royal Bank of Canada's dividend payout ratio is presently 52.91%.

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.