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Canaccord Genuity Raises Royal Bank of Canada (TSE:RY) Price Target to C$106.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price raised by Canaccord Genuity from C$104.00 to C$106.00 in a note issued to investors on Monday, BayStreet.CA reports. Canaccord Genuity’s target price would indicate a potential downside of 3.09% from the stock’s current price.

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A number of other equities analysts have also issued reports on the stock. Scotiabank lowered their target price on shares of Royal Bank of Canada from C$118.00 to C$117.00 in a research report on Wednesday, November 20th. National Bank Financial raised their target price on shares of Royal Bank of Canada from C$111.00 to C$117.00 and gave the stock an “outperform” rating in a research report on Friday. Eight Capital lowered their target price on shares of Royal Bank of Canada from C$114.00 to C$113.00 in a research report on Wednesday, September 4th. Cormark lowered their target price on shares of Royal Bank of Canada from C$112.00 to C$111.00 in a research report on Thursday, August 22nd. Finally, BMO Capital Markets lowered their target price on shares of Royal Bank of Canada from C$114.00 to C$109.00 in a research report on Thursday, August 22nd.

Shares of RY traded up C$0.13 during mid-day trading on Monday, reaching C$109.38. 828,027 shares of the company’s stock were exchanged, compared to its average volume of 2,687,377. The stock has a market capitalization of $156.67 billion and a PE ratio of 12.48. The business’s fifty day simple moving average is C$107.10 and its 200-day simple moving average is C$104.43. Royal Bank of Canada has a 52-week low of C$90.10 and a 52-week high of C$109.68.

In related news, Senior Officer Alex Douglas Mcgregor sold 10,000 shares of Royal Bank of Canada stock in a transaction on Monday, September 9th. The shares were sold at an average price of C$100.96, for a total value of C$1,009,557.00. Following the transaction, the insider now directly owns 54,675 shares in the company, valued at approximately C$5,519,752.90. Also, Senior Officer Helena Gottschling sold 882 shares of Royal Bank of Canada stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of C$107.98, for a total transaction of C$95,240.12. Following the completion of the transaction, the insider now owns 1,415 shares in the company, valued at C$152,794.53. Over the last quarter, insiders sold 57,398 shares of company stock worth $5,986,594.

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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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