Royal Bank of Canada (TSE:RY) Insider Sells C$1,024,410.23 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 3,659 shares of the company’s 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$1,024,410.23. Following the completion of the transaction, the insider directly owned 235 shares in the company, valued at C$65,792.95. This represents a 93.97% decrease in their position.

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

• On Wednesday, July 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$297.19, for a total value of C$1,086,823.83.
• On Tuesday, June 30th, Bruce Washington Ross sold 45,670 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$293.11, for a total value of C$13,386,333.70.
• On Monday, June 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$284.86, for a total value of C$1,041,733.02.
• 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 stock was sold at an average price of C$270.88, for a total value of C$10,491,182.40.

Royal Bank of Canada Stock Up 0.4%

Shares of TSE RY traded up C$1.05 during mid-day trading on Wednesday, hitting C$287.68. 613,303 shares of the company traded hands, compared to its average volume of 3,521,313. Royal Bank of Canada has a 1 year low of C$195.86 and a 1 year high of C$306.38. The stock has a market capitalization of C$399.78 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 3.42 and a beta of 1.05. The business has a 50 day moving average of C$293.42 and a two-hundred day moving average of C$259.79.

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

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 24th were issued a $1.76 dividend. 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. This represents a $7.04 annualized dividend and a dividend yield of 2.4%. Royal Bank of Canada’s dividend payout ratio is 41.35%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RY. National Bank Financial set a C$318.00 price target on shares of Royal Bank of Canada and gave the company an “outperform” rating in a report on Monday. Canaccord Genuity Group raised their price objective 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 note on Tuesday, July 7th. Raymond James Financial lifted their price objective on shares of Royal Bank of Canada from C$270.50 to C$306.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 12th. Canadian Imperial Bank of Commerce boosted their target price 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 note on Wednesday, August 19th. Finally, Keefe, Bruyette & Woods set a C$316.00 target price on Royal Bank of Canada and gave the company a “hold” rating in a report on Friday, August 21st. One 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 data from MarketBeat.com, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus target price of C$286.07.

About Royal Bank of Canada

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.