Bruce Washington Ross Sells 45,670 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 45,670 shares of the firm’s 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 directly owned 235 shares of the company’s stock, valued at C$68,880.85. This represents a 99.49% decrease in their ownership of the stock.

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

• On Monday, June 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$284.86, for a total transaction of C$1,041,733.02.
• 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 transaction 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 transaction 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 transaction 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 Price Performance

Shares of Royal Bank of Canada stock traded down C$3.01 during trading hours on Thursday, reaching C$290.67. The company had a trading volume of 2,087,119 shares, compared to its average volume of 3,566,052. The firm has a market cap of C$403.93 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. Royal Bank of Canada has a one year low of C$175.50 and a one year high of C$296.91. The business has a fifty day simple moving average of C$264.23 and a 200 day simple moving average of C$242.70.

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

Royal Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd were given a dividend of $1.64 per share. The ex-dividend date was Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 2.3%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 41.35%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RY. 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. National Bank Financial raised 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. Raymond James Financial lifted their price target on 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. Desjardins increased their price objective on Royal Bank of Canada from C$262.00 to C$275.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Finally, Barclays raised their price objective on Royal Bank of Canada from C$245.00 to C$260.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. One 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. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target 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.