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

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY announced a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 3.49%.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock traded down C$1.42 during trading on Monday, hitting C$169.56. The company's stock had a trading volume of 3,371,113 shares, compared to its average volume of 4,546,480. The stock's fifty day moving average is C$172.44 and its 200 day moving average is C$169.84. Royal Bank of Canada has a 1-year low of C$131.30 and a 1-year high of C$180.45. The stock has a market capitalization of C$239.93 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 3.42 and a beta of 0.84.

Analyst Upgrades and Downgrades

RY has been the topic of several recent analyst reports. CIBC cut their price objective on shares of Royal Bank of Canada from C$176.00 to C$175.00 in a report on Tuesday, February 18th. TD Securities cut their price target on shares of Royal Bank of Canada from C$180.00 to C$178.00 and set a "hold" rating on the stock in a research note on Friday. Scotiabank lowered their price objective on shares of 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. BMO Capital Markets dropped their price objective on Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. Finally, UBS Group reduced their target price on Royal Bank of Canada from C$200.00 to C$192.00 in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$181.83.

Insider Buying and Selling

In related news, Director David Ian Mckay sold 20,304 shares of the stock in a transaction dated Monday, February 24th. The stock was 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 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$52,257.10. In the last ninety days, insiders have sold 42,762 shares of company stock valued at $7,379,177.

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.