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

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$246.77 and traded as high as C$301.56. Royal Bank of Canada shares last traded at C$300.95, with a volume of 4,137,640 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RY shares. TD lifted their price objective on Royal Bank of Canada from C$267.00 to C$272.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Scotiabank upped their target price on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the company a “sector outperform” rating in a research note on Tuesday, June 16th. Jefferies Financial Group raised their price target on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. Canadian Imperial Bank of Commerce lifted their price target on shares of Royal Bank of Canada from C$258.00 to C$279.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Raymond James Financial increased their price objective on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$262.96.

Royal Bank of Canada Stock Performance

The stock has a market cap of C$421.29 billion, a P/E ratio of 19.71, a P/E/G ratio of 3.42 and a beta of 1.05. The business’s 50-day moving average price is C$275.05 and its 200-day moving average price is C$247.28.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Thursday, May 28th. The financial services provider reported C$3.90 EPS for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%.The company had revenue of C$17.45 billion for the quarter. As a group, equities research analysts expect that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 24th will be paid a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank of Canada’s dividend payout ratio is currently 41.35%.

Insider Activity

In other Royal Bank of Canada news, insider Bruce Washington Ross sold 45,670 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of C$293.11, for a total value of C$13,386,333.70. Following the completion of the sale, the insider owned 235 shares in the company, valued at approximately C$68,880.85. This represents a 99.49% decrease in their position. Also, Director David Ian Mckay sold 133,130 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of C$287.21, for a total value of C$38,236,267.30. Following the sale, the director directly owned 5,873 shares in the company, valued at approximately C$1,686,784.33. This represents a 95.77% decrease in their ownership of the stock. Over the last ninety days, insiders sold 353,645 shares of company stock worth $98,785,630.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.