Insider Selling: Royal Bank of Canada (TSE:RY) Senior Officer Sells C$70,363.23 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Senior Officer Jennifer Kristine Publicover sold 401 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of C$175.47, for a total transaction of C$70,363.23. Following the sale, the insider now directly owns 152 shares in the company, valued at approximately C$26,671.35. The trade was a 72.51% decrease in their position.

Jennifer Kristine Publicover also recently made the following trade(s):

• On Thursday, May 22nd, Jennifer Kristine Publicover sold 401 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$174.06, for a total transaction of C$69,798.94.
• On Tuesday, April 22nd, Jennifer Kristine Publicover sold 401 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$160.27, for a total transaction of C$64,266.71.

Royal Bank of Canada Trading Down 0.2%

Shares of TSE RY opened at C$175.72 on Thursday. Royal Bank of Canada has a twelve month low of C$143.90 and a twelve month high of C$180.45. The stock has a 50 day moving average of C$171.21 and a two-hundred day moving average of 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 3.51%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.48. Royal Bank of Canada’s dividend payout ratio is currently 49.49%.

Analysts Set New Price Targets

Several research analysts have issued reports on RY shares. Canaccord Genuity Group set a C$194.00 target price on shares of Royal Bank of Canada and gave the stock a “buy” rating in a report on Tuesday. Barclays increased their price objective on shares of Royal Bank of Canada from C$180.00 to C$182.00 and gave the company an “overweight” rating in a research report on Monday, June 9th. Scotiabank raised shares of Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, May 15th. Jefferies Financial Group reduced their price target on shares of Royal Bank of Canada from C$195.00 to C$180.00 in a research report on Monday, April 21st. Finally, Cibc World Mkts raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$184.54.

About Royal Bank of Canada

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.