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 that occurred on Wednesday, July 22nd. The stock was sold at an average price of C$297.19, for a total transaction of C$1,086,823.83. Following the completion of the sale, the insider owned 235 shares of the company’s stock, valued at approximately C$69,839.65. The trade was a 93.96% decrease in their position.

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

• On Tuesday, June 30th, Bruce Washington Ross sold 45,670 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$293.11, for a total transaction of C$13,386,333.70.
• 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 shares were sold at an average price of C$261.83, for a total value of C$957,512.31.

Royal Bank of Canada Price Performance

Shares of TSE RY opened at C$295.01 on Friday. The business’s 50-day moving average price is C$281.85 and its two-hundred day moving average price is C$250.30. Royal Bank of Canada has a one year low of C$175.50 and a one year high of C$306.38. The company has a market capitalization of C$409.96 billion, a P/E 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 issued its earnings results 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 company had revenue of C$17.45 billion for the quarter. On average, equities analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. TD lifted their target price on shares of Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a research note on Friday, May 29th. National Bank Financial raised their price target on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Barclays raised their price target on shares of Royal Bank of Canada from C$245.00 to C$260.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Raymond James Financial upped their price objective on shares of 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, Scotiabank increased their target price on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, June 16th. 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$262.96.

Key Royal Bank of Canada News

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.

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.