Royal Bank of Canada (TSE:RY) Insider Sells C$957,512.31 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 3,657 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total value of C$957,512.31. Following the completion of the sale, the insider owned 235 shares in the company, valued at approximately C$61,530.05. This represents a 93.96% decrease in their position.

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

• 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 0.5%

Royal Bank of Canada stock traded up C$1.29 during mid-day trading on Monday, hitting C$263.26. The company had a trading volume of 575,362 shares, compared to its average volume of 3,765,957. Royal Bank of Canada has a 12-month low of C$171.29 and a 12-month high of C$265.10. The company’s fifty day moving average is C$237.29 and its 200-day moving average is C$230.15. The company has a market capitalization of C$366.07 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 3.42 and a beta of 1.14.

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 business had revenue of C$17.96 billion for the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%. As a group, sell-side analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were paid 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 of this dividend was Thursday, April 23rd. Royal Bank of Canada’s dividend payout ratio is presently 42.58%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RY. Canadian Imperial Bank of Commerce upped their target price on Royal Bank of Canada from C$242.00 to C$258.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Barclays upped their target price on Royal Bank of Canada from C$244.00 to C$245.00 in a research note on Friday, February 27th. 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 research note on Friday, May 15th. Raymond James Financial downgraded Royal Bank of Canada from a “moderate buy” rating to a “hold” rating and upped their target price for the stock from C$248.00 to C$265.50 in a research note on Tuesday, May 12th. Finally, TD Securities reduced their target price on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a research note 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 given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.