Royal Bank of Canada (TSE:RY) Share Price Passes Above 200 Day Moving Average – Here’s Why

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$166.73 and traded as high as C$179.30. Royal Bank of Canada shares last traded at C$178.67, with a volume of 4,498,610 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on RY shares. Canaccord Genuity Group lifted their price objective on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. 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. National Bankshares lifted their price objective on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. CIBC lifted their price objective on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Finally, BMO Capital Markets reduced their price objective on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$176.58.

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Royal Bank of Canada Stock Up 1.5 %

The firm’s 50-day moving average is C$174.70 and its 200-day moving average is C$166.73. The company has a market capitalization of C$251.92 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 24th will be given a $1.48 dividend. The ex-dividend date of this dividend is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 3.31%. Royal Bank of Canada’s payout ratio is 50.31%.

Insider Buying and Selling

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 25 shares in the company, valued at C$4,427.24. This represents a 98.40 % decrease in their ownership of the stock. Also, Director David Ian Mckay sold 20,304 shares of the company’s stock in a transaction dated 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. Over the last ninety days, insiders sold 22,150 shares of company stock worth $3,882,024.

About Royal Bank of Canada

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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.

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