Insider Selling: Royal Bank of Canada (TSE:RY) Insider Sells 462 Shares

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Katherine Gibson sold 462 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of C$284.86, for a total value of C$131,605.32. Following the sale, the insider directly owned 290 shares of the company’s stock, valued at C$82,609.40. This represents a 61.44% decrease in their ownership of the stock.

Katherine Gibson also recently made the following trade(s):

• On Friday, May 22nd, Katherine Gibson sold 462 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$261.83, for a total value of C$120,965.46.
• On Wednesday, April 22nd, Katherine Gibson sold 462 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$112,182.84.

Royal Bank of Canada Stock Performance

RY stock traded down C$0.52 during midday trading on Wednesday, reaching C$287.89. The company’s stock had a trading volume of 1,863,272 shares, compared to its average volume of 3,602,954. Royal Bank of Canada has a 1 year low of C$175.03 and a 1 year high of C$289.82. The firm has a market capitalization of C$400.07 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 3.42 and a beta of 1.08. The stock has a fifty day simple moving average of C$258.41 and a two-hundred day simple moving average of C$239.99.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued 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%. As a group, analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal 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 given a $1.64 dividend. This represents a $6.56 annualized dividend 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 41.35%.

Analyst Upgrades and Downgrades

RY has been the topic of a number of research reports. Barclays raised their target price on shares of Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an “overweight” rating in a research 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 stock a “buy” 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. National Bank Financial upped their target price on Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, TD Securities cut their price target on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently 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.