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

Royal Bank of Canada (TSE:RY) (NYSE:RY) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Investors of record on Thursday, April 24th will be paid 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 yield of 3.45%.

Royal Bank of Canada Trading Up 0.4 %

Royal Bank of Canada stock opened at C$171.42 on Thursday. The stock has a 50 day moving average of C$172.61 and a two-hundred day moving average of C$169.41. Royal Bank of Canada has a twelve month low of C$130.44 and a twelve month high of C$180.45. The stock has a market capitalization of C$242.56 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 3.42 and a beta of 0.84.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RY. Canaccord Genuity Group increased their price target on Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. BMO Capital Markets reduced their target price on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a research note on Thursday, December 5th. UBS Group lowered their target price on shares of Royal Bank of Canada from C$200.00 to C$192.00 in a report on Friday, February 14th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their price target for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. Finally, Jefferies Financial Group lowered their price objective on Royal Bank of Canada from C$197.00 to C$192.00 in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$180.50.

Insider Buying and Selling 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 that occurred on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$53,938.25. Also, Director David Ian Mckay sold 20,304 shares of the company’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$3,444,896.43. Over the last 90 days, insiders have sold 42,762 shares of company stock valued at $7,379,177.

Royal Bank of Canada Company Profile

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.