Bruce Washington Ross Sells 3,657 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 3,657 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of C$284.86, for a total transaction of C$1,041,733.02. Following the sale, the insider owned 235 shares in the company, valued at approximately C$66,942.10. The trade was a 93.96% decrease in their position.

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

• On Friday, June 12th, Bruce Washington Ross sold 41,724 shares of Royal Bank of Canada stock. The shares were 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 transaction of C$10,491,182.40.
• On Friday, May 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The shares were 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 shares were sold at an average price of C$242.82, for a total value of C$887,992.74.

Royal Bank of Canada Trading Down 0.2%

RY traded down C$0.52 during trading on Wednesday, hitting C$287.89. 1,863,272 shares of the company’s stock traded hands, compared to its average volume of 3,602,954. The stock has a market capitalization of C$400.07 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 3.42 and a beta of 1.08. The company’s 50 day simple moving average is C$258.41 and its two-hundred day simple moving average is C$239.99. Royal Bank of Canada has a 12-month low of C$175.03 and a 12-month high of C$289.82.

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

Royal Bank of Canada Announces Dividend

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

Analyst Upgrades and Downgrades

RY has been the topic of several research analyst reports. Jefferies Financial Group upped their target price on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. Barclays lifted their price target on shares of Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. TD Securities decreased their price objective on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a report on Friday, February 27th. Scotiabank increased their price objective on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the company a “sector outperform” rating in a research report on Tuesday, June 16th. Finally, Canadian Imperial Bank of Commerce raised 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 report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company 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.