Jennifer Kristine Publicover Sells 439 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Jennifer Kristine Publicover sold 439 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total transaction of C$114,943.37. Following the transaction, the insider directly owned 152 shares of the company’s stock, valued at C$39,798.16. The trade was a 74.28% decrease in their ownership of the stock.

Jennifer Kristine Publicover also recently made the following trade(s):

• On Wednesday, April 22nd, Jennifer Kristine Publicover sold 439 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$106,597.98.

Royal Bank of Canada Stock Performance

TSE:RY opened at C$262.33 on Wednesday. The company has a 50-day moving average of C$238.95 and a 200-day moving average of C$230.97. The company has a market capitalization of C$364.77 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 3.42 and a beta of 1.14. Royal Bank of Canada has a 52 week low of C$171.29 and a 52 week high of C$265.10.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Thursday, February 26th. The financial services provider reported C$4.08 EPS for the quarter. The company had revenue of C$17.96 billion during the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. Sell-side analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 22nd were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, April 23rd. Royal Bank of Canada’s dividend payout ratio (DPR) is 42.58%.

Royal Bank of Canada News Roundup

Here are the key news stories impacting Royal Bank of Canada this week:

• Positive Sentiment: Several analysts recently raised their price targets on Royal Bank of Canada, including Canaccord Genuity to C$270 and Desjardins to C$262, while the consensus remains “Moderate Buy.”
• Positive Sentiment: Royal Bank of Canada also recently paid a quarterly dividend of C$1.64 per share, reinforcing its appeal for income-focused investors.
• Neutral Sentiment: The bank reported strong recent quarterly results, with C$4.08 EPS, C$17.96 billion in revenue, and a 15.37% return on equity, which supports the stock’s elevated valuation.
• Negative Sentiment: Multiple insiders and a director sold shares, including Director David Ian McKay and insiders Bruce Washington Ross, Katherine Gibson, Jennifer Kristine Publicover, and Graeme Ashley Hepworth, which can weigh on sentiment because it may signal limited short-term upside. Director David Ian McKay Sells 23,089 Shares of Stock

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Scotiabank raised their target price on Royal Bank of Canada from C$247.00 to C$252.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 4th. Raymond James Financial downgraded Royal Bank of Canada from a “moderate buy” rating to a “hold” rating and raised their target price for the stock from C$248.00 to C$265.50 in a research report on Tuesday, May 12th. National Bank Financial raised 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 research report on Friday, May 15th. Canadian Imperial Bank of Commerce lifted their price target on shares of Royal Bank of Canada from C$242.00 to C$258.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, TD Securities cut their price target on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$253.19.

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.