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

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of C$297.19, for a total value of C$1,086,823.83. Following the sale, the insider directly owned 235 shares of the company’s stock, valued at C$69,839.65. This represents a 93.96% decrease in their position.

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

• On Tuesday, June 30th, Bruce Washington Ross sold 45,670 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$293.11, for a total value of C$13,386,333.70.
• On Monday, June 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$284.86, for a total value 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 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 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 transaction of C$957,512.31.

Royal Bank of Canada Stock Up 0.2%

Shares of RY stock traded up C$0.68 during trading on Friday, hitting C$294.35. The company had a trading volume of 1,124,933 shares, compared to its average volume of 3,589,400. The stock’s 50-day moving average is C$281.00 and its two-hundred day moving average is C$249.98. The stock has a market capitalization of C$409.05 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a 52 week low of C$175.50 and a 52 week high of C$306.38.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced 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 business had revenue of C$17.45 billion during the quarter. On average, research analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 24th will be given a dividend of $1.76 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 2.4%. Royal Bank of Canada’s dividend payout ratio is 41.35%.

Analysts Set New Price Targets

Several research analysts recently issued reports on RY shares. Raymond James Financial upped their target price on shares of 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. Desjardins raised their price target on Royal Bank of Canada from C$262.00 to C$275.00 and gave the company a “buy” rating in a research report on Friday, May 29th. TD lifted their price target on Royal Bank of Canada from C$267.00 to C$272.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Barclays upped their price objective on Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Finally, Canaccord Genuity Group increased their price objective on Royal Bank of Canada from C$282.00 to C$310.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$262.96.

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.