Bruce Washington Ross Sells 41,724 Shares of Royal Bank of Canada (TSE:RY) 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 dated 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 sale, the insider directly owned 235 shares in the company, valued at approximately C$65,651.95. This trade represents a 99.44% decrease in their ownership of the stock.

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 stock was 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 Trading Up 1.1%

RY stock traded up C$3.05 during trading on Tuesday, reaching C$281.51. 2,154,696 shares of the stock were exchanged, compared to its average volume of 3,632,610. Royal Bank of Canada has a twelve month low of C$173.56 and a twelve month high of C$282.00. The company has a market capitalization of C$391.20 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. The stock has a 50 day simple moving average of C$253.19 and a 200-day simple moving average of C$237.55.

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. The business had revenue of C$17.45 billion for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%. Equities analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Dividend Announcement

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

Analysts Set New Price Targets

RY has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price objective on Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. Scotiabank lifted their target price on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Raymond James Financial lifted their target price on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a research note on Friday, May 29th. TD lifted their target price on shares of Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, Canaccord Genuity Group lifted 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. One 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.