Royal Bank of Canada (TSE:RY) Insider Bruce Washington Ross Sells 38,730 Shares of Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 38,730 shares of Royal Bank of Canada stock in a transaction dated Friday, June 5th. The shares were sold at an average price of C$270.88, for a total value of C$10,491,182.40. Following the completion of the transaction, the insider directly owned 235 shares of the company’s stock, valued at approximately C$63,656.80. This represents a 99.40% decrease in their ownership of the stock.

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

• On Friday, May 22nd, Bruce Washington Ross sold 3,657 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$957,512.31.
• On Wednesday, April 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$242.82, for a total value of C$887,992.74.

Royal Bank of Canada Price Performance

TSE RY opened at C$272.63 on Tuesday. The company has a market cap of C$378.87 billion, a P/E ratio of 17.73, a P/E/G ratio of 3.42 and a beta of 1.08. The stock has a 50-day moving average of C$246.74 and a two-hundred day moving average of C$234.73. Royal Bank of Canada has a 1-year low of C$173.39 and a 1-year high of C$273.64.

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

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were given a dividend of $1.64 per share. 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 2.4%. Royal Bank of Canada’s payout ratio is currently 41.35%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Jefferies Financial Group boosted their price objective on Royal Bank of Canada from C$226.00 to C$232.00 in a research report on Wednesday, May 20th. Canadian Imperial Bank of Commerce boosted 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 research report on Friday, May 29th. TD Securities lowered their price objective on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a research report on Friday, February 27th. TD boosted their price objective on Royal Bank of Canada from C$267.00 to C$272.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Scotiabank boosted their price objective on Royal Bank of Canada from C$252.00 to C$275.00 and gave the stock a “sector outperform” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$260.42.

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.