Royal Bank of Canada (TSE:RY) Insider Graeme Ashley Hepworth Sells 1,463 Shares of Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Graeme Ashley Hepworth sold 1,463 shares of the firm’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of C$297.19, for a total value of C$434,788.97.

Graeme Ashley Hepworth also recently made the following trade(s):

• On Monday, June 22nd, Graeme Ashley Hepworth sold 1,463 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$284.86, for a total value of C$416,750.18.
• On Friday, May 22nd, Graeme Ashley Hepworth sold 1,463 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$261.83, for a total value of C$383,057.29.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at C$295.01 on Friday. Royal Bank of Canada has a 52-week low of C$175.50 and a 52-week high of C$306.38. The stock has a market capitalization of C$409.96 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 3.42 and a beta of 1.05. The company’s 50 day moving average price is C$281.85 and its 200-day moving average price is C$250.30.

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

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 24th will be paid a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 2.4%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank of Canada’s payout ratio is currently 41.35%.

Royal Bank of Canada News Roundup

Here are the key news stories impacting Royal Bank of Canada this week:

• Positive Sentiment: Royal Bank of Canada received a consensus analyst recommendation of “Moderate Buy”, which suggests Wall Street views remain favorable and may be supporting the stock. Royal Bank of Canada (TSE:RY) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Positive Sentiment: The share price crossed above its 200-day moving average, a bullish technical signal that can attract momentum buyers and indicate improving investor confidence. Royal Bank of Canada (TSE:RY) Share Price Crosses Above 200 Day Moving Average – What’s Next?
• Negative Sentiment: Multiple insiders sold shares, including a large sale by Director David Ian McKay and additional sales by Katherine Gibson, Graeme Ashley Hepworth, and Bruce Washington Ross. Insider selling can weigh on sentiment because investors may view it as a sign of caution, even if it is often routine diversification.

Analyst Ratings Changes

Several research firms recently issued reports on RY. Desjardins raised their target price on Royal Bank of Canada from C$262.00 to C$275.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce increased their price objective on Royal Bank of Canada from C$258.00 to C$279.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Jefferies Financial Group lifted their price objective on Royal Bank of Canada from C$226.00 to C$232.00 in a research report on Wednesday, May 20th. Canaccord Genuity Group boosted their target price on Royal Bank of Canada from C$282.00 to C$310.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Barclays upped 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. 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$262.96.

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.