Royal Bank of Canada (TSE:RY) Senior Officer Graeme Ashley Hepworth Sells 308 Shares

Royal Bank of Canada (TSE:RY) (NYSE:RY) Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$53,938.25.

Royal Bank of Canada Stock Up 0.8 %

Shares of RY stock traded up C$1.47 on Thursday, reaching C$175.58. 8,055,318 shares of the stock were exchanged, compared to its average volume of 4,594,097. The stock has a market cap of C$247.57 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The firm has a 50 day moving average of C$174.26 and a two-hundred day moving average of C$165.78. Royal Bank of Canada has a 1-year low of C$127.60 and a 1-year high of C$180.45.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 24th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.37%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.31%.

Analysts Set New Price Targets

RY has been the subject of several research reports. BMO Capital Markets cut their price objective on Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th. Scotiabank boosted their price target on Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. CIBC lifted their price objective on Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their target price for the company from C$178.00 to C$180.00 in a report on Friday, November 15th. Finally, Canaccord Genuity Group lifted their price target on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$176.58.

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.