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 on Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total value of C$957,512.31. Following the transaction, the insider directly owned 235 shares in the company, valued at C$61,530.05. The trade was a 93.96% decrease in their ownership of the stock.

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

• 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 Stock Performance

Shares of Royal Bank of Canada stock opened at C$262.33 on Wednesday. Royal Bank of Canada has a one year low of C$171.29 and a one year high of C$265.10. The stock’s fifty day moving average is C$238.95 and its 200 day moving average is C$230.97. The stock has a market cap of C$364.77 billion, a P/E ratio of 18.02, a P/E/G ratio of 3.42 and a beta of 1.14.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its 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 predict that Royal Bank of Canada will post 12.3454675 EPS 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. Stockholders of record on Friday, May 22nd were given a dividend of $1.64 per share. The ex-dividend date was Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 2.5%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 42.58%.

Key Royal Bank of Canada News

Here are the key news stories impacting Royal Bank of Canada this week:

• Positive Sentiment: Several analysts recently raised their price targets on Royal Bank of Canada, including Canaccord Genuity to C$270 and Desjardins to C$262, while the consensus remains “Moderate Buy.”
• Positive Sentiment: Royal Bank of Canada also recently paid a quarterly dividend of C$1.64 per share, reinforcing its appeal for income-focused investors.
• Neutral Sentiment: The bank reported strong recent quarterly results, with C$4.08 EPS, C$17.96 billion in revenue, and a 15.37% return on equity, which supports the stock’s elevated valuation.
• Negative Sentiment: Multiple insiders and a director sold shares, including Director David Ian McKay and insiders Bruce Washington Ross, Katherine Gibson, Jennifer Kristine Publicover, and Graeme Ashley Hepworth, which can weigh on sentiment because it may signal limited short-term upside. Director David Ian McKay Sells 23,089 Shares of Stock

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. National Bank Financial lifted their target price on Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Jefferies Financial Group lifted their target price on Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. Desjardins lifted their target price on Royal Bank of Canada from C$250.00 to C$262.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Scotiabank boosted their price target on shares of Royal Bank of Canada from C$247.00 to C$252.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 4th. Finally, TD Securities reduced 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 research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$253.19.

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.