Royal Bank of Canada (TSE:RY) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Royal Bank of Canada (TSE:RY) (NYSE:RY) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$164.21 and traded as high as C$174.42. Royal Bank of Canada shares last traded at C$170.92, with a volume of 3,929,527 shares changing hands.

Analysts Set New Price Targets

Several analysts have issued reports on RY shares. Canaccord Genuity Group increased their target price on Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. BMO Capital Markets dropped their price objective on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. CIBC boosted their target price on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Scotiabank increased their price objective on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$176.58.

Royal Bank of Canada Price Performance

The stock has a market cap of C$241.00 billion, a PE ratio of 15.14, a PEG ratio of 3.42 and a beta of 0.84. The firm has a 50 day moving average of C$174.04 and a two-hundred day moving average of C$164.37.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a $1.48 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s payout ratio is presently 50.31%.

Insider Transactions at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was 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 of the company’s stock, valued at approximately C$4,427.24. This trade represents a 98.40 % decrease in their position.

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.