Royal Bank of Canada (TSE:RY) Insider Sells C$887,992.74 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 3,657 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total transaction of C$887,992.74. Following the sale, the insider directly owned 235 shares in the company, valued at C$57,062.70. This trade represents a 93.96% decrease in their position.

Royal Bank of Canada Stock Performance

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 were exchanged, compared to its average volume of 3,718,561. The company’s fifty day moving average is C$229.99 and its 200-day moving average is C$224.00. The firm has a market cap of C$333.97 billion, a PE ratio of 16.50, a PEG ratio of 3.42 and a beta of 1.07. Royal Bank of Canada has a 52 week low of C$161.82 and a 52 week high of C$246.72.

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

Royal Bank of Canada Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RY. Jefferies Financial Group upped their target price on shares of Royal Bank of Canada from C$217.00 to C$220.00 in a report on Wednesday, February 11th. Canadian Imperial Bank of Commerce increased their price target on shares of Royal Bank of Canada from C$229.00 to C$242.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. TD Securities decreased their price target 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 report on Friday, February 27th. Desjardins increased their price target on shares of Royal Bank of Canada from C$247.00 to C$250.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Canaccord Genuity Group increased their price target on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus price target of C$244.58.

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.