Royal Bank of Canada (TSE:RY) Insider Sells C$10,491,182.40 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 38,730 shares of Royal Bank of Canada stock in a transaction on Friday, June 5th. The stock was sold at an average price of C$270.88, for a total transaction of C$10,491,182.40. Following the transaction, the insider owned 235 shares in the company, valued at approximately C$63,656.80. This trade represents a 99.40% decrease in their position.

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

• 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.
• 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 transaction of C$887,992.74.

Royal Bank of Canada Stock Performance

Shares of TSE:RY traded up C$2.03 during mid-day trading on Monday, reaching C$272.63. 2,648,911 shares of the company’s stock were exchanged, compared to its average volume of 3,702,972. The firm has a market capitalization of C$378.87 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 3.42 and a beta of 1.08. The business’s fifty day moving average price is C$246.74 and its 200-day moving average price is C$234.73. Royal Bank of Canada has a twelve month low of C$173.39 and a twelve month high of C$273.64.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 EPS for the quarter. The company had revenue of C$17.45 billion for the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. Analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 22nd were issued a $1.64 dividend. The ex-dividend date was Thursday, April 23rd. This represents a $6.56 annualized dividend and a yield of 2.4%. Royal Bank of Canada’s payout ratio is presently 41.35%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RY shares. Canaccord Genuity Group boosted 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 report on Friday. Desjardins boosted their target price on shares of Royal Bank of Canada from C$262.00 to C$275.00 and gave the company a “buy” rating in a report on Friday, May 29th. Barclays boosted their target price on shares of Royal Bank of Canada from C$245.00 to C$260.00 and gave the company an “overweight” rating in a report on Friday, May 29th. TD upped their price objective on shares of Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Raymond James Financial upped their price objective 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 report on Friday, May 29th. 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 company presently has a consensus rating of “Moderate Buy” and an average price target of C$260.42.

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.