UBS Group Cuts Royal Bank of Canada (TSE:RY) Price Target to C$192.00

Royal Bank of Canada (TSE:RY - Free Report) NYSE: RY had its price objective lowered by UBS Group from C$200.00 to C$192.00 in a research report sent to investors on Friday,BayStreet.CA reports.

Other research analysts also recently issued reports about the stock. TD Securities downgraded shares of Royal Bank of Canada from a "buy" rating to a "hold" rating and lifted their price target for the stock from C$178.00 to C$180.00 in a research note on Friday, November 15th. Scotiabank lifted their target price on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research report on Monday, November 25th. Barclays upgraded shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 21st. National Bankshares raised their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. Finally, CIBC boosted their target price on Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of C$181.00.

Royal Bank of Canada Price Performance

RY stock traded up C$2.87 during mid-day trading on Friday, hitting C$171.54. 7,054,006 shares of the stock were exchanged, compared to its average volume of 4,766,942. The business has a fifty day moving average price of C$173.56 and a 200 day moving average price of C$168.47. Royal Bank of Canada has a 12 month low of C$130.44 and a 12 month high of C$180.45. The stock has a market capitalization of C$242.73 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 24th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, January 27th. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.42. Royal Bank of Canada's dividend payout ratio (DPR) is presently 49.49%.

Insider Activity at Royal Bank of Canada

In related news, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total transaction of C$53,938.25. Also, Senior Officer Douglas Antony Guzman sold 1,538 shares of the business's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total transaction of C$272,363.80. Following the sale, the insider now directly owns 25 shares in the company, valued at C$4,427.24. The trade was a 98.40 % decrease in their position. Insiders have sold 22,150 shares of company stock worth $3,882,024 over the last ninety days.

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.