Neil Mclaughlin Sells 4,000 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Neil Mclaughlin sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of C$287.72, for a total transaction of C$1,150,880.00.

Neil Mclaughlin also recently made the following trade(s):

• On Wednesday, June 24th, Neil Mclaughlin sold 3,500 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$287.70, for a total transaction of C$1,006,950.00.

Royal Bank of Canada Trading Down 0.9%

RY stock traded down C$2.62 during midday trading on Friday, reaching C$286.50. The company had a trading volume of 1,090,903 shares, compared to its average volume of 3,580,469. The company has a 50 day moving average of C$260.36 and a two-hundred day moving average of C$240.90. The company has a market capitalization of C$398.14 billion, a P/E ratio of 18.63, a PEG ratio of 3.42 and a beta of 1.08. Royal Bank of Canada has a 1 year low of C$175.50 and a 1 year high of C$290.70.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results 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 business had revenue of C$17.45 billion for the quarter. On average, sell-side analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd were paid a $1.64 dividend. 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 payout ratio is 41.35%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Raymond James Financial raised their price target on Royal Bank of Canada from C$265.50 to C$270.50 and gave the stock a “market perform” rating in a research note on Friday, May 29th. Canaccord Genuity Group increased their price objective on Royal Bank of Canada from C$280.00 to C$282.00 and gave the stock a “buy” rating in a report on Friday, June 5th. 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. TD raised their price objective on shares of Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, TD Securities reduced their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.