Insider Selling: Royal Bank of Canada (TSE:RY) Insider Sells 462 Shares of Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Katherine Gibson sold 462 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total transaction of C$112,182.84. Following the transaction, the insider directly owned 290 shares of the company’s stock, valued at C$70,417.80. The trade was a 61.44% decrease in their ownership of the stock.

Royal Bank of Canada Trading Up 0.3%

Royal Bank of Canada stock traded up C$0.62 during midday trading on Friday, reaching C$240.18. 2,478,811 shares of the stock traded hands, compared to its average volume of 3,718,561. The firm has a fifty day moving average price of C$229.99 and a two-hundred day moving average price of C$224.00. The firm has a market cap of C$333.97 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 3.42 and a beta of 1.07. Royal Bank of Canada has a fifty-two week low of C$161.82 and a fifty-two week high of C$246.72.

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

Royal Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank of Canada’s dividend payout ratio (DPR) is 42.58%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RY. National Bank Financial lifted their target price on shares of Royal Bank of Canada from C$241.00 to C$247.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Jefferies Financial Group lifted their target price on shares of Royal Bank of Canada from C$217.00 to C$220.00 in a research report on Wednesday, February 11th. Raymond James Financial lifted their target price on shares of Royal Bank of Canada from C$255.00 to C$260.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. TD Securities dropped their target price on shares of 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. Finally, Canadian Imperial Bank of Commerce lifted their target price on shares of Royal Bank of Canada from C$229.00 to C$242.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$244.58.

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.