Royal Bank of Canada (TSE:RY) Insider Katherine Gibson Sells 462 Shares

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Katherine Gibson sold 462 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of C$297.19, for a total value of C$137,301.78. Following the completion of the sale, the insider directly owned 290 shares of the company’s stock, valued at approximately C$86,185.10. This trade represents a 61.44% decrease in their position.

Katherine Gibson also recently made the following trade(s):

• On Monday, June 22nd, Katherine Gibson sold 462 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$284.86, for a total transaction of C$131,605.32.
• On Friday, May 22nd, Katherine Gibson sold 462 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$120,965.46.

Royal Bank of Canada Stock Up 0.5%

Shares of RY opened at C$295.01 on Friday. Royal Bank of Canada has a 52-week low of C$175.50 and a 52-week high of C$306.38. The company has a 50-day simple moving average of C$281.85 and a 200-day simple moving average of C$250.30. The company has a market capitalization of C$409.96 billion, a PE ratio of 19.18, a P/E/G ratio of 3.42 and a beta of 1.05.

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

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 24th will be paid a dividend of $1.76 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 2.4%. Royal Bank of Canada’s dividend payout ratio is presently 41.35%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. Canaccord Genuity Group upped their target price on Royal Bank of Canada from C$282.00 to C$310.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Barclays raised their price target 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. National Bank Financial lifted their price target on Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, Desjardins boosted their price objective 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 report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$262.96.

Key Stories Impacting Royal Bank of Canada

Here are the key news stories impacting Royal Bank of Canada this week:

• Positive Sentiment: Royal Bank of Canada received a consensus analyst recommendation of “Moderate Buy”, which suggests Wall Street views remain favorable and may be supporting the stock. Royal Bank of Canada (TSE:RY) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Positive Sentiment: The share price crossed above its 200-day moving average, a bullish technical signal that can attract momentum buyers and indicate improving investor confidence. Royal Bank of Canada (TSE:RY) Share Price Crosses Above 200 Day Moving Average – What’s Next?
• Negative Sentiment: Multiple insiders sold shares, including a large sale by Director David Ian McKay and additional sales by Katherine Gibson, Graeme Ashley Hepworth, and Bruce Washington Ross. Insider selling can weigh on sentiment because investors may view it as a sign of caution, even if it is often routine diversification.

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.