Insider Selling: Royal Bank of Canada (TSE:RY) Insider Sells C$1,041,733.02 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 3,657 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of C$284.86, for a total transaction of C$1,041,733.02. Following the completion of the transaction, the insider owned 235 shares of the company’s stock, valued at C$66,942.10. This 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 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 shares were sold at an average price of C$242.82, for a total value of C$887,992.74.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at C$288.01 on Friday. The business has a 50 day simple moving average of C$261.28 and a 200-day simple moving average of C$241.22. Royal Bank of Canada has a 12 month low of C$175.50 and a 12 month high of C$290.70. The stock has a market capitalization of C$400.24 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced 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 during the quarter. As a group, equities research analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were given a $1.64 dividend. The ex-dividend date 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 dividend payout ratio (DPR) is currently 41.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RY. Canaccord Genuity Group raised their price objective on shares of Royal Bank of Canada from C$280.00 to C$282.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Barclays increased their target price on Royal Bank of Canada from C$245.00 to C$260.00 and gave the company an “overweight” rating in a report on Friday, May 29th. 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 report on Friday, May 29th. TD Securities cut their price target on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a report on Friday, February 27th. Finally, Canadian Imperial Bank of Commerce upped their price objective on Royal Bank of Canada from C$258.00 to C$279.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Royal Bank of Canada presently 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.