Insider Selling: Royal Bank of Canada (TSE:RY) Senior Officer Sells C$54,044.58 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of C$175.47, for a total transaction of C$54,044.58.

Graeme Ashley Hepworth also recently made the following trade(s):

• On Thursday, May 22nd, Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$174.06, for a total value of C$53,611.16.

Royal Bank of Canada Trading Down 0.2%

TSE RY opened at C$175.72 on Thursday. Royal Bank of Canada has a 12 month low of C$143.90 and a 12 month high of C$180.45. The stock’s fifty day moving average price is C$171.21 and its 200-day moving average price is C$169.56. The stock has a market cap of C$248.64 billion, a P/E ratio of 15.31, a P/E/G ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 3.51%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.48. Royal Bank of Canada’s dividend payout ratio is 49.49%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays raised their target price on Royal Bank of Canada from C$180.00 to C$182.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. National Bank Financial downgraded Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 29th. Cormark lowered their price objective on Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. Jefferies Financial Group dropped their target price on shares of Royal Bank of Canada from C$195.00 to C$180.00 in a report on Monday, April 21st. Finally, Cibc World Mkts upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$184.54.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.