Royal Bank of Canada (TSE:RY) Insider Bruce Washington Ross Sells 45,670 Shares of Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 45,670 shares of Royal Bank of Canada stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of C$293.11, for a total value of C$13,386,333.70. Following the completion of the sale, the insider owned 235 shares of the company’s stock, valued at C$68,880.85. The trade was a 99.49% decrease in their ownership of the stock.

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

• 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 transaction 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 transaction 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 transaction of C$10,491,182.40.
• On Friday, May 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The shares were 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 shares were sold at an average price of C$242.82, for a total transaction of C$887,992.74.

Royal Bank of Canada Trading Down 1.1%

Shares of RY stock opened at C$290.43 on Friday. Royal Bank of Canada has a 12-month low of C$175.50 and a 12-month high of C$296.91. The firm’s 50 day moving average is C$265.18 and its 200 day moving average is C$243.14. The stock has a market capitalization of C$403.60 billion, a P/E ratio of 18.88, a P/E/G ratio of 3.42 and a beta of 1.08.

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 for the quarter. The business 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, equities analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

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

Analyst Upgrades and Downgrades

RY has been the topic of a number of recent research reports. TD increased their target price on 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. Desjardins boosted 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 note on Friday, May 29th. Canaccord Genuity Group upped their price target on shares of Royal Bank of Canada from C$280.00 to C$282.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Barclays increased their price objective 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 note on Friday, May 29th. Finally, Raymond James Financial raised their price objective 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 report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus target price of C$260.81.

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.