Royal Bank of Canada (RY) Price Target Raised to C$120.00 at Citigroup

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target upped by Citigroup from C$118.00 to C$120.00 in a report released on Tuesday.

Several other equities analysts also recently issued reports on the stock. Barclays upped their price objective on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a research note on Friday, August 25th. CIBC increased their target price on shares of Royal Bank of Canada from C$103.00 to C$113.00 in a research note on Monday, November 13th. Canaccord Genuity increased their target price on shares of Royal Bank of Canada from C$100.00 to C$105.00 in a research note on Wednesday, November 1st. Eight Capital increased their target price on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a research note on Friday, August 25th. Finally, National Bank Financial decreased their target price on shares of Royal Bank of Canada from C$101.00 to C$99.00 and set a sector perform rating for the company in a research note on Thursday, August 24th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of C$106.31.

Royal Bank of Canada (RY) opened at C$102.05 on Tuesday. Royal Bank of Canada has a 12 month low of C$90.13 and a 12 month high of C$102.59.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be given a $0.91 dividend. The ex-dividend date is Wednesday, January 24th. This represents a $3.64 dividend on an annualized basis and a yield of 3.57%. Royal Bank of Canada’s payout ratio is currently 46.03%.

In related news, insider Jennifer Anne Tory sold 344 shares of the firm’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of C$101.55, for a total value of C$34,933.20. Also, insider Alex Douglas Mcgregor sold 7,403 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of C$101.73, for a total transaction of C$753,107.19. In the last 90 days, insiders sold 32,731 shares of company stock valued at $3,209,901.

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About Royal Bank of Canada

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services, and Capital Markets. The Personal & Commercial Banking segment engages in the personal and business banking operations, auto financing, and retail investment businesses.

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