Canaccord Genuity Group Increases Royal Bank of Canada (TSE:RY) Price Target to C$282.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective lifted by Canaccord Genuity Group from C$280.00 to C$282.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. Canaccord Genuity Group’s price target points to a potential upside of 3.76% from the company’s current price.

Other analysts have also issued reports about the company. TD Securities lowered their price objective on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Canadian Imperial Bank of Commerce lifted their price objective on Royal Bank of Canada from C$258.00 to C$279.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Jefferies Financial Group boosted their target price on Royal Bank of Canada from C$226.00 to C$232.00 in a research report on Wednesday, May 20th. National Bank Financial boosted their target price on Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Finally, Desjardins boosted their target price on Royal Bank of Canada from C$262.00 to C$275.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$260.42.

Royal Bank of Canada Stock Up 0.3%

RY stock traded up C$0.83 during midday trading on Friday, reaching C$271.77. The stock had a trading volume of 1,287,152 shares, compared to its average volume of 3,704,021. The business has a fifty day simple moving average of C$244.81 and a two-hundred day simple moving average of C$233.83. The firm has a market cap of C$377.68 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 3.42 and a beta of 1.14. Royal Bank of Canada has a twelve month low of C$173.39 and a twelve month high of C$272.35.

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

Insider Activity at Royal Bank of Canada

In other news, insider Katherine Gibson sold 462 shares of Royal Bank of Canada stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total transaction of C$120,965.46. Following the transaction, the insider owned 290 shares in the company, valued at C$75,930.70. The trade was a 61.44% decrease in their position. Also, insider Jennifer Kristine Publicover sold 439 shares of Royal Bank of Canada stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total value of C$114,943.37. Following the transaction, the insider owned 152 shares in the company, valued at C$39,798.16. This trade represents a 74.28% decrease in their position. In the last three months, insiders sold 58,220 shares of company stock worth $14,690,362.

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.