Bruce Washington Ross Sells 45,670 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 45,670 shares of Royal Bank of Canada stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of C$293.11, for a total value of C$13,386,333.70. Following the completion of the sale, the insider directly owned 235 shares in the company, valued at approximately C$68,880.85. This represents a 99.49% decrease in their position.

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

• On Monday, June 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$284.86, for a total transaction of C$1,041,733.02.
• On Friday, June 12th, Bruce Washington Ross sold 41,724 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$279.37, for a total transaction of C$11,656,433.88.
• On Friday, June 5th, Bruce Washington Ross sold 38,730 shares of Royal Bank of Canada stock. The stock was 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 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 Price Performance

Shares of TSE RY opened at C$290.38 on Friday. The stock has a market capitalization of C$403.53 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 3.42 and a beta of 1.08. The business has a 50-day moving average of C$266.16 and a 200-day moving average of C$243.47. Royal Bank of Canada has a fifty-two week low of C$175.50 and a fifty-two week high of C$296.91.

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. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%.The business had revenue of C$17.45 billion for the quarter. On average, sell-side analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 24th will be given a dividend of $1.76 per share. 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. This represents a $7.04 annualized dividend and a dividend yield of 2.4%. Royal Bank of Canada’s payout ratio is presently 41.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RY shares. National Bank Financial increased their price objective on Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Scotiabank boosted their target price on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a “sector outperform” rating in a report on Tuesday, June 16th. Canadian Imperial Bank of Commerce upped their price target on shares of 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. Jefferies Financial Group increased their price target on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. Finally, Canaccord Genuity Group increased their price target on shares of Royal Bank of Canada from C$280.00 to C$282.00 and gave the company a “buy” rating in a research note on Friday, June 5th. One 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$260.81.

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.