Royal Bank of Canada (TSE:RY) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$162.69 and traded as high as C$174.31. Royal Bank of Canada shares last traded at C$172.27, with a volume of 4,303,683 shares changing hands.

Analyst Ratings Changes

Several equities analysts have commented on RY shares. CIBC increased their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday, November 26th. Barclays upgraded shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st. 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 report on Thursday, December 5th. Canaccord Genuity Group raised their price target on Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. Finally, National Bankshares boosted their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of "Buy" and an average price target of C$176.58.

Royal Bank of Canada Price Performance

The firm has a market capitalization of C$245.21 billion, a P/E ratio of 15.40, a PEG ratio of 3.42 and a beta of 0.84. The company's 50 day moving average price is C$173.70 and its 200 day moving average price is C$162.88.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a dividend of $1.48 per share. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 3.40%. The ex-dividend date is Monday, January 27th. Royal Bank of Canada's payout ratio is currently 50.31%.

Insider Transactions at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the company's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total value of C$272,363.80. Following the completion of the sale, the insider now owns 25 shares in the company, valued at approximately C$4,427.24. This represents a 98.40 % decrease in their ownership of the stock.

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.