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

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 3,657 shares of the stock in a transaction dated 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 directly owned 235 shares in the company, valued at C$66,942.10. This trade represents a 93.96% decrease in their ownership of the stock.

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 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 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 stock was sold at an average price of C$261.83, for a total transaction 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 transaction of C$887,992.74.

Royal Bank of Canada Stock Down 0.1%

Shares of RY opened at C$288.03 on Thursday. Royal Bank of Canada has a twelve month low of C$175.03 and a twelve month high of C$289.82. The company has a market capitalization of C$400.26 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. The firm has a 50 day moving average of C$259.39 and a 200 day moving average of C$240.44.

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 (EPS) for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%.The business had revenue of C$17.45 billion for the quarter. On average, sell-side analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on RY. TD increased their price objective on Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Barclays upped their target price on shares of 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. Desjardins lifted 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. Canaccord Genuity Group lifted their price target on shares of Royal Bank of Canada from C$280.00 to C$282.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on shares of Royal Bank of Canada from C$258.00 to C$279.00 and gave the company a “neutral” rating in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$260.81.

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.