Royal Bank of Canada (TSE:RY) Insider Bruce Washington Ross Sells 41,724 Shares

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 41,724 shares of Royal Bank of Canada stock in a transaction on Friday, June 12th. The stock was sold at an average price of C$279.37, for a total transaction of C$11,656,433.88. Following the completion of the transaction, the insider owned 235 shares in the company, valued at C$65,651.95. This trade represents a 99.44% decrease in their position.

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

• On Friday, June 5th, Bruce Washington Ross sold 38,730 shares of Royal Bank of Canada stock. The stock was 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 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 RY opened at C$281.51 on Wednesday. The company’s fifty day moving average price is C$253.19 and its 200 day moving average price is C$237.55. Royal Bank of Canada has a one year low of C$173.56 and a one year high of C$282.00. The company has a market capitalization of C$391.20 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08.

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 for the quarter. Analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were issued a dividend of $1.64 per share. The ex-dividend date was Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 2.3%. Royal Bank of Canada’s payout ratio is presently 41.35%.

Wall Street Analyst Weigh In

RY has been the topic of several research reports. Canaccord Genuity Group boosted 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 report on Friday, June 5th. Jefferies Financial Group boosted their price objective on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. TD Securities dropped their price objective on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Barclays boosted their price objective on shares of Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Finally, Canadian Imperial Bank of Commerce lifted their target price 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 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 given a Hold rating to the stock. Based on data from MarketBeat, Royal Bank of Canada has an average 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.