Royal Bank of Canada (TSE:RY) Insider Sells C$957,512.31 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total value of C$957,512.31. Following the completion of the sale, the insider directly owned 235 shares in the company, valued at C$61,530.05. This represents a 93.96% decrease in their ownership of the stock.

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

• 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 value of C$887,992.74.

Royal Bank of Canada Price Performance

Shares of TSE:RY opened at C$261.64 on Thursday. The business’s 50 day moving average price is C$239.70 and its 200-day moving average price is C$231.36. The firm has a market capitalization of C$363.81 billion, a PE ratio of 17.97, a P/E/G ratio of 3.42 and a beta of 1.14. Royal Bank of Canada has a 1 year low of C$171.29 and a 1 year high of C$265.10.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. The firm had revenue of C$17.96 billion for the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%. As a group, analysts expect that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were paid a $1.64 dividend. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.5%. Royal Bank of Canada’s payout ratio is currently 42.58%.

Wall Street Analysts Forecast Growth

RY has been the topic of a number of research analyst reports. Scotiabank lifted their price target on Royal Bank of Canada from C$247.00 to C$252.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 4th. Raymond James Financial lowered Royal Bank of Canada from a “moderate buy” rating to a “hold” rating and boosted their price objective for the stock from C$248.00 to C$265.50 in a research note on Tuesday, May 12th. Jefferies Financial Group boosted their price objective on Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. TD Securities lowered their price objective on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on Royal Bank of Canada from C$242.00 to C$258.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$253.19.

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.