Royal Bank of Canada (TSE:RY) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$249.57 and traded as high as C$299.40. Royal Bank of Canada shares last traded at C$297.95, with a volume of 4,063,282 shares.

Key Stories Impacting Royal Bank of Canada

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

• Positive Sentiment: Royal Bank of Canada received a consensus analyst recommendation of “Moderate Buy”, which suggests Wall Street views remain favorable and may be supporting the stock. Royal Bank of Canada (TSE:RY) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Positive Sentiment: The share price crossed above its 200-day moving average, a bullish technical signal that can attract momentum buyers and indicate improving investor confidence. Royal Bank of Canada (TSE:RY) Share Price Crosses Above 200 Day Moving Average – What’s Next?
• Negative Sentiment: Multiple insiders sold shares, including a large sale by Director David Ian McKay and additional sales by Katherine Gibson, Graeme Ashley Hepworth, and Bruce Washington Ross. Insider selling can weigh on sentiment because investors may view it as a sign of caution, even if it is often routine diversification.

Analysts Set New Price Targets

RY has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a research report on Wednesday, May 20th. TD raised their target price on shares of Royal Bank of Canada from C$267.00 to C$272.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Desjardins lifted their target price on shares of Royal Bank of Canada from C$262.00 to C$275.00 and gave the company a “buy” rating in a report on Friday, May 29th. Canadian Imperial Bank of Commerce boosted their price target 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 note on Friday, May 29th. Finally, Barclays increased 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 report on Friday, May 29th. One investment 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 data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average target price of C$262.96.

Royal Bank of Canada Stock Up 0.5%

The stock has a fifty day moving average of C$281.00 and a two-hundred day moving average of C$249.98. The stock has a market cap of C$409.96 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 3.42 and a beta of 1.05.

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. 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, research analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 24th will be issued a $1.76 dividend. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.64. Royal Bank of Canada’s payout ratio is 41.35%.

Insider Transactions at Royal Bank of Canada

In other Royal Bank of Canada news, insider Bruce Washington Ross sold 3,657 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of C$297.19, for a total value of C$1,086,823.83. Following the completion of the transaction, the insider directly owned 235 shares of the company’s stock, valued at approximately C$69,839.65. This trade represents a 93.96% decrease in their ownership of the stock. Also, Director David Ian Mckay sold 23,089 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of C$297.19, for a total transaction of C$6,861,819.91. Following the completion of the transaction, the director directly owned 5,873 shares of the company’s stock, valued at approximately C$1,745,396.87. This trade represents a 79.72% decrease in their ownership of the stock. Over the last three months, insiders have sold 353,206 shares of company stock valued at $100,237,874.

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.