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

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Katherine Gibson sold 462 shares of Royal Bank of Canada stock in a transaction on Monday, August 24th. The shares were sold at an average price of C$279.97, for a total value of C$129,346.14. Following the sale, the insider directly owned 290 shares of the company’s stock, valued at C$81,191.30. This represents a 61.44% decrease in their position.

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

• On Wednesday, July 22nd, Katherine Gibson sold 462 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$297.19, for a total value of C$137,301.78.
• On Monday, June 22nd, Katherine Gibson sold 462 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$131,605.32.

Royal Bank of Canada Trading Up 0.4%

Shares of TSE:RY traded up C$1.05 during trading on Wednesday, reaching C$287.68. The company had a trading volume of 613,303 shares, compared to its average volume of 3,521,313. The company has a fifty day moving average of C$293.42 and a two-hundred day moving average of C$259.79. The stock has a market capitalization of C$399.78 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a 12 month low of C$195.86 and a 12 month high of C$306.38.

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

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 24th were issued a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, July 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.64. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 41.35%.

Analyst Upgrades and Downgrades

RY has been the subject of several recent research reports. Barclays boosted their price objective on Royal Bank of Canada from C$260.00 to C$300.00 in a research report on Friday, August 21st. TD lifted their price target on shares of Royal Bank of Canada from C$272.00 to C$307.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Royal Bank of Canada from C$279.00 to C$311.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Jefferies Financial Group upped their price objective on shares of Royal Bank of Canada from C$240.00 to C$268.00 in a report on Thursday, August 13th. Finally, Canaccord Genuity Group raised their target price on shares of Royal Bank of Canada from C$282.00 to C$310.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$286.07.

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.