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

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 38,730 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of C$270.88, for a total value of C$10,491,182.40. Following the sale, the insider directly owned 235 shares in the company, valued at 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 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 Stock Up 1.2%

RY stock opened at C$276.01 on Wednesday. The company’s 50-day simple moving average is C$247.87 and its 200-day simple moving average is C$235.21. Royal Bank of Canada has a 52-week low of C$173.39 and a 52-week high of C$277.09. The firm has a market cap of C$383.57 billion, a P/E ratio of 17.95, a PEG ratio of 3.42 and a beta of 1.08.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its earnings results 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 business had revenue of C$17.45 billion for the quarter. On average, analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, April 23rd. Royal Bank of Canada’s dividend payout ratio is presently 41.35%.

Analyst Upgrades and Downgrades

RY has been the topic of several recent analyst reports. Desjardins increased their target price on shares of 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. Raymond James Financial increased their target price on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the stock a “market perform” rating in a research note on Friday, May 29th. TD increased their target price on shares of Royal Bank of Canada from C$267.00 to C$272.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. National Bank Financial increased their target price on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, Scotiabank raised their price target on shares of Royal Bank of Canada from C$252.00 to C$275.00 and gave the company a “sector outperform” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Royal Bank of Canada has an average rating of “Moderate Buy” and an average 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.