Analysts Set Royal Bank of Canada (NYSE:RY) Price Target at $131.50

Shares of Royal Bank of Canada (NYSE:RYGet Free Report) (TSE:RY) have received a consensus recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $131.50.

RY has been the topic of several recent analyst reports. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Jefferies Financial Group assumed coverage on Royal Bank of Canada in a report on Thursday, February 22nd. They issued a “hold” rating on the stock. Barclays assumed coverage on Royal Bank of Canada in a report on Wednesday. They set an “equal weight” rating on the stock. Finally, Bank of America raised Royal Bank of Canada from a “neutral” rating to a “buy” rating in a report on Monday, December 18th.

View Our Latest Stock Analysis on Royal Bank of Canada

Institutional Investors Weigh In On Royal Bank of Canada

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vident Investment Advisory LLC grew its stake in shares of Royal Bank of Canada by 1.1% during the 1st quarter. Vident Investment Advisory LLC now owns 9,935 shares of the financial services provider’s stock valued at $1,095,000 after buying an additional 105 shares during the period. Cigna Investments Inc. New grew its stake in shares of Royal Bank of Canada by 0.5% during the 4th quarter. Cigna Investments Inc. New now owns 26,187 shares of the financial services provider’s stock valued at $2,661,000 after buying an additional 131 shares during the period. Bessemer Group Inc. grew its stake in shares of Royal Bank of Canada by 0.7% during the 2nd quarter. Bessemer Group Inc. now owns 18,151 shares of the financial services provider’s stock valued at $1,735,000 after buying an additional 133 shares during the period. Laurel Wealth Advisors Inc. grew its stake in shares of Royal Bank of Canada by 6.3% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 2,284 shares of the financial services provider’s stock valued at $252,000 after buying an additional 135 shares during the period. Finally, SOA Wealth Advisors LLC. grew its stake in shares of Royal Bank of Canada by 10.2% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,626 shares of the financial services provider’s stock valued at $142,000 after buying an additional 151 shares during the period. 42.02% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Up 1.6 %

Shares of NYSE RY opened at $100.40 on Monday. The stock has a market cap of $142.03 billion, a P/E ratio of 12.64, a PEG ratio of 1.70 and a beta of 0.86. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $102.07. The business’s fifty day simple moving average is $98.24 and its 200-day simple moving average is $92.56.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be given a $1.0207 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $4.08 dividend on an annualized basis and a yield of 4.07%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.13%.

Royal Bank of Canada Company Profile

(Get Free Report

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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Analyst Recommendations for Royal Bank of Canada (NYSE:RY)

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