Bruce Washington Ross Sells 3,657 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 3,657 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of C$284.86, for a total value of C$1,041,733.02. Following the completion of the transaction, the insider directly owned 235 shares in the company, valued at C$66,942.10. This trade represents a 93.96% decrease in their ownership of the stock.

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

• 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 value of C$11,656,433.88.
• 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 value 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 value 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 value of C$887,992.74.

Royal Bank of Canada Price Performance

TSE RY opened at C$289.12 on Friday. The firm has a market capitalization of C$401.78 billion, a P/E ratio of 18.80, a P/E/G ratio of 3.42 and a beta of 1.08. Royal Bank of Canada has a 1-year low of C$175.50 and a 1-year high of C$290.70. The business’s 50-day simple moving average is C$260.36 and its 200-day simple moving average is C$240.90.

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 firm had revenue of C$17.45 billion during the quarter. On average, equities research analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, April 23rd. Royal Bank of Canada’s payout ratio is currently 41.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RY shares. Canaccord Genuity Group raised their target price 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. Raymond James Financial increased their price target on Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a report on Friday, May 29th. TD raised their price objective on Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Scotiabank boosted their price objective on Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, June 16th. Finally, Jefferies Financial Group upped their target price on Royal Bank of Canada from C$226.00 to C$232.00 in a research report on Wednesday, May 20th. One investment 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.