Brokerages Set Royal Bank of Canada (TSE:RY) PT at $95.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been given an average recommendation of “Hold” by the twelve ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is C$95.00.

Several research firms have recently issued reports on RY. Scotiabank upped their target price on shares of Royal Bank of Canada from C$101.00 to C$102.00 and gave the stock an “outperform” rating in a research note on Friday, May 26th. National Bank Financial restated a “sector perform” rating and set a C$99.00 price target on shares of Royal Bank of Canada in a research report on Friday, May 26th.

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In other Royal Bank of Canada news, insider Alex Douglas Mcgregor sold 30,000 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of C$92.79, for a total transaction of C$2,783,700.00. Also, insider Jennifer Anne Tory sold 362 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of C$92.87, for a total transaction of C$33,618.94. Insiders have sold 44,340 shares of company stock valued at $4,121,794 in the last quarter.

Royal Bank of Canada (TSE RY) opened at 94.71 on Monday. The firm’s 50-day moving average is $94.29 and its 200 day moving average is $95.09. The stock has a market capitalization of $137.98 billion and a PE ratio of 12.89. Royal Bank of Canada has a 52-week low of $79.52 and a 52-week high of $99.90.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Wednesday, July 26th will be given a dividend of $0.87 per share. The ex-dividend date is Monday, July 24th. This represents a $3.48 dividend on an annualized basis and a yield of 3.67%.

About Royal Bank of Canada

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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

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