Royal Bank of Canada (TSE:RY) Insider Bruce Washington Ross Sells 38,730 Shares

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 38,730 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of C$270.88, for a total transaction of C$10,491,182.40. Following the sale, the insider directly owned 235 shares of the company’s stock, valued at approximately C$63,656.80. The trade was a 99.40% decrease in their ownership of the stock.

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

• 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 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 transaction of C$887,992.74.

Royal Bank of Canada Price Performance

Shares of TSE:RY traded up C$2.03 during midday trading on Monday, hitting C$272.63. 2,648,911 shares of the company’s stock were exchanged, compared to its average volume of 3,702,972. The stock has a 50 day moving average price of C$246.74 and a 200-day moving average price of C$234.73. The company has a market cap of C$378.87 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. Royal Bank of Canada has a 12 month low of C$173.39 and a 12 month high of C$273.64.

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 EPS for the quarter. The company had revenue of C$17.45 billion during the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. On average, analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 2.4%. Royal Bank of Canada’s payout ratio is presently 41.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Desjardins boosted their target price 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. TD Securities decreased their price objective on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Raymond James Financial increased their price objective on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce increased their price objective on shares of Royal Bank of Canada from C$258.00 to C$279.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Canaccord Genuity Group increased their price objective on shares of Royal Bank of Canada from C$280.00 to C$282.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$260.42.

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.