Royal Bank of Canada (TSE:RY) Insider Sells C$13,386,333.70 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 45,670 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of C$293.11, for a total transaction of C$13,386,333.70. Following the sale, the insider owned 235 shares of the company’s stock, valued at C$68,880.85. This trade represents a 99.49% decrease in their ownership of the stock.

Bruce Washington Ross also recently made the following trade(s):

• On Monday, June 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$284.86, for a total transaction of C$1,041,733.02.
• On Friday, June 12th, Bruce Washington Ross sold 41,724 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$279.37, for a total transaction of C$11,656,433.88.
• On Friday, June 5th, Bruce Washington Ross sold 38,730 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$270.88, for a total value of C$10,491,182.40.
• On Friday, May 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$261.83, for a total value of C$957,512.31.
• 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 transaction of C$887,992.74.

Royal Bank of Canada Trading Down 1.0%

Royal Bank of Canada stock traded down C$3.01 during mid-day trading on Thursday, hitting C$290.67. The stock had a trading volume of 2,087,119 shares, compared to its average volume of 3,566,052. The firm has a market capitalization of C$403.93 billion, a P/E ratio of 18.90, a P/E/G ratio of 3.42 and a beta of 1.08. The firm’s 50 day moving average is C$264.23 and its 200 day moving average is C$242.70. Royal Bank of Canada has a one year low of C$175.50 and a one year high of C$296.91.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%.The firm had revenue of C$17.45 billion during the quarter. As a group, equities research analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, April 23rd. Royal Bank of Canada’s dividend payout ratio (DPR) is 41.35%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Canadian Imperial Bank of Commerce upped their target price on shares of Royal Bank of Canada from C$258.00 to C$279.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Desjardins boosted their price target on shares of Royal Bank of Canada from C$262.00 to C$275.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. National Bank Financial raised their price objective 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. Raymond James Financial lifted their target price on Royal Bank of Canada from C$265.50 to C$270.50 and gave the stock a “market perform” rating in a report on Friday, May 29th. Finally, Barclays increased their price target on Royal Bank of Canada from C$245.00 to C$260.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$260.81.

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.