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

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 3,657 shares of the business’s stock in a transaction dated 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 sale, the insider owned 235 shares in the company, valued at C$61,530.05. The trade was 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%

Shares of RY stock traded up C$1.29 during trading hours on Monday, reaching C$263.26. 575,362 shares of the company’s stock were exchanged, compared to its average volume of 3,765,957. Royal Bank of Canada has a 1 year low of C$171.29 and a 1 year high of C$265.10. The stock has a market cap of C$366.07 billion, a PE ratio of 18.08, a PEG ratio of 3.42 and a beta of 1.14. The stock’s fifty day moving average price is C$237.29 and its two-hundred day moving average price is C$230.15.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share for the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%.The business had revenue of C$17.96 billion for the quarter. On average, equities analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.5%. Royal Bank of Canada’s payout ratio is presently 42.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RY shares. Desjardins boosted their price target on Royal Bank of Canada from C$250.00 to C$262.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. National Bank Financial upped their target price on Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Scotiabank upped their target price on Royal Bank of Canada from C$247.00 to C$252.00 and gave the company a “sector outperform” rating in a research report on Monday, May 4th. Jefferies Financial Group upped their target price on Royal Bank of Canada from C$226.00 to C$232.00 in a research report on Wednesday, May 20th. Finally, TD Securities dropped their target price on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average price target 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.