Jefferies Financial Group Has Lowered Expectations for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective cut by Jefferies Financial Group from C$197.00 to C$192.00 in a report issued on Tuesday,BayStreet.CA reports.

Other research analysts also recently issued reports about the stock. Barclays raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. National Bankshares boosted 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. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their target price for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. CIBC boosted their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday, November 26th. Finally, Scotiabank increased their price objective on Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$180.50.

Royal Bank of Canada Price Performance

Shares of RY stock opened at C$169.40 on Tuesday. The business has a 50-day moving average of C$173.09 and a 200 day moving average of C$168.83. Royal Bank of Canada has a 1-year low of C$130.44 and a 1-year high of C$180.45. The stock has a market capitalization of C$239.70 billion, a PE ratio of 14.76, a P/E/G ratio of 3.42 and a beta of 0.84.

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, February 24th will be issued a $1.48 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Monday, January 27th. This represents a $5.92 dividend on an annualized basis and a yield of 3.49%. Royal Bank of Canada’s dividend payout ratio is 49.49%.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction 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 stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$3,555,721.76. Over the last 90 days, insiders sold 22,150 shares of company stock valued at $3,882,024.

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.