Royal Bank of Canada (TSE:RY) Given New C$192.00 Price Target at Jefferies Financial Group

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price reduced by research analysts at Jefferies Financial Group from C$197.00 to C$192.00 in a research note issued on Tuesday,BayStreet.CA reports. Jefferies Financial Group’s price target would suggest a potential upside of 12.12% from the company’s current price.

RY has been the subject of several other research reports. BMO Capital Markets lowered their price objective on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th. National Bankshares raised their price objective on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. 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. CIBC raised their price objective on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. Finally, 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 report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$181.00.

Royal Bank of Canada Trading Up 1.5 %

RY stock traded up C$2.58 during trading on Tuesday, hitting C$171.25. 705,220 shares of the stock traded hands, compared to its average volume of 4,573,451. Royal Bank of Canada has a one year low of C$130.44 and a one year high of C$180.45. The stock has a market cap of C$242.32 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 3.42 and a beta of 0.84. The company has a 50 day simple moving average of C$173.56 and a 200 day simple moving average of C$168.47.

Insider Transactions at Royal Bank of Canada

In related news, Director David Ian Mckay sold 20,304 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were 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 business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of C$177.09, for a total transaction of C$272,363.80. Following the transaction, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,427.24. This represents a 98.40 % decrease in their position. Insiders sold a total of 22,150 shares of company stock worth $3,882,024 in the last quarter.

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.