Insider Selling: Royal Bank of Canada (TSE:RY) Insider Sells C$11,656,433.88 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 41,724 shares of Royal Bank of Canada stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of C$279.37, for a total value of C$11,656,433.88. Following the completion of the sale, the insider directly owned 235 shares in the company, valued at approximately C$65,651.95. The trade was a 99.44% decrease in their position.

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

• On Friday, June 5th, Bruce Washington Ross sold 38,730 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$270.88, for a total transaction of C$10,491,182.40.
• 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 transaction 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 Stock Performance

TSE:RY opened at C$285.10 on Friday. Royal Bank of Canada has a fifty-two week low of C$173.56 and a fifty-two week high of C$286.31. The firm has a market capitalization of C$396.19 billion, a PE ratio of 18.54, a PEG ratio of 3.42 and a beta of 1.08. The stock’s fifty day moving average is C$255.38 and its 200 day moving average is C$238.51.

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 (EPS) for the quarter. The firm 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%. Equities analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The firm also recently announced 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. This represents a $6.56 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, April 23rd. Royal Bank of Canada’s dividend payout ratio (DPR) is 41.35%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RY shares. Barclays boosted their price target 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. Canadian Imperial Bank of Commerce lifted their target price on Royal Bank of Canada from C$258.00 to C$279.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. TD Securities lowered their target price on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a report on Friday, February 27th. Raymond James Financial increased their price target on Royal Bank of Canada from C$265.50 to C$270.50 and gave the stock a “market perform” rating in a research report on Friday, May 29th. Finally, Jefferies Financial Group raised their price target on Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$260.81.

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.