Royal Bank of Canada (TSE:RY) Insider Sells 3,657 Shares

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 3,657 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of C$284.86, for a total value of C$1,041,733.02. Following the completion of the sale, the insider owned 235 shares of the company’s stock, valued at approximately C$66,942.10. This trade represents a 93.96% decrease in their position.

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

• On Friday, June 12th, Bruce Washington Ross sold 41,724 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$279.37, for a total value of C$11,656,433.88.
• 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 shares were 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 shares were sold at an average price of C$242.82, for a total value of C$887,992.74.

Royal Bank of Canada Stock Performance

RY stock traded down C$0.52 on Wednesday, reaching C$287.89. The company’s stock had a trading volume of 1,863,272 shares, compared to its average volume of 3,602,954. The firm has a market cap of C$400.07 billion, a PE ratio of 18.72, a PEG ratio of 3.42 and a beta of 1.08. The business has a fifty day simple moving average of C$258.41 and a two-hundred day simple moving average of C$239.99. Royal Bank of Canada has a 12-month low of C$175.03 and a 12-month high of C$289.82.

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

Royal Bank of Canada Announces Dividend

The business 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. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.3%. Royal Bank of Canada’s payout ratio is presently 41.35%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RY. Desjardins increased their price target on shares of Royal Bank of Canada from C$262.00 to C$275.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. National Bank Financial lifted their price objective on Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Raymond James Financial upped their target price on Royal Bank of Canada from C$265.50 to C$270.50 and gave the stock a “market perform” rating in a report on Friday, May 29th. TD Securities reduced their target price on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Scotiabank increased their target price on Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, June 16th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$260.81.

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.