Royal Bank of Canada (RY) Reaches New 12-Month High at $102.90

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$102.90 and last traded at C$101.92, with a volume of 8257634 shares. The stock had previously closed at C$101.46.

RY has been the topic of several recent research reports. Eight Capital boosted their price target on Royal Bank of Canada from C$105.00 to C$107.00 in a research report on Thursday, November 30th. Desjardins boosted their price target on Royal Bank of Canada from C$108.00 to C$109.00 in a research report on Thursday, November 30th. CIBC boosted their price target on Royal Bank of Canada from C$103.00 to C$113.00 in a research report on Monday, November 13th. Canaccord Genuity boosted their price target on Royal Bank of Canada from C$100.00 to C$105.00 in a research report on Wednesday, November 1st. Finally, Barclays boosted their price target on Royal Bank of Canada from C$94.20 to C$96.00 in a research report on Friday, August 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of C$106.31.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, January 25th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $3.64 annualized dividend and a yield of 3.57%. Royal Bank of Canada’s dividend payout ratio is presently 46.03%.

In other news, Director David Ian Mckay sold 3,577 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of C$94.28, for a total value of C$337,239.56. Also, insider Alex Douglas Mcgregor sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of C$93.10, for a total value of C$931,000.00. Insiders have sold a total of 32,731 shares of company stock worth $3,209,901 over the last 90 days.

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Royal Bank of Canada Company Profile

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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