Bruce Washington Ross Sells 41,724 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 41,724 shares of Royal Bank of Canada stock in a transaction on Friday, June 12th. The shares were sold at an average price of C$279.37, for a total transaction of C$11,656,433.88. Following the transaction, the insider owned 235 shares in the company, valued at C$65,651.95. The trade was a 99.44% decrease in their position.

Bruce Washington Ross also recently made the following trade(s):

• On Friday, June 5th, Bruce Washington Ross sold 38,730 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$270.88, for a total value of C$10,491,182.40.
• On Friday, May 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$261.83, for a total value of C$957,512.31.
• On Wednesday, April 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$242.82, for a total value of C$887,992.74.

Royal Bank of Canada Stock Up 0.6%

TSE RY opened at C$283.23 on Thursday. The stock has a market cap of C$393.59 billion, a PE ratio of 18.42, a P/E/G ratio of 3.42 and a beta of 1.08. Royal Bank of Canada has a fifty-two week low of C$173.56 and a fifty-two week high of C$284.71. The business has a 50 day moving average price of C$254.28 and a two-hundred day moving average price of C$238.02.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share 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%. Sell-side analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, April 23rd. Royal Bank of Canada’s dividend payout ratio is 41.35%.

Analyst Upgrades and Downgrades

RY has been the subject of several research analyst reports. Jefferies Financial Group increased their target price on Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. National Bank Financial increased their target price on Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Desjardins increased their target price on Royal Bank of Canada from C$262.00 to C$275.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Scotiabank increased their target price on 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. Finally, Barclays raised their price objective on Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$260.81.

Royal Bank of Canada Company Profile

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.